PPD of WV One LLC plans for the construction of a $73 million synthetic fuel plant to be built in Greenbrier County. The West Virginia Economic Development Authority passed an inducement resolution to potentially issue revenue bonds to PPD of WV One LLC, the owner of the plant, on Thursday, September 21.
The resolution does not actually issue bonds, but it does create the authority for the WVEDA to approve bonds in the future, up to $80 million, specifically for this project.
While the estimated cost of the project comes to $73 million, the WVEDA has agreed to issue bonds in the future, up to $80 million, “without any cost, expense or financial liability or obligation whatsoever to the [WVE DA],” according to the resolution, stating that PPD of WV One would pay any principal, premiums, and interest on the bonds, and any other expenses in relation to the plant. PPD of WV One requested the bonds be issued.
The resolution also states that the plant would stimulate the expansion of business activity within the state and within Greenbrier County in particular.
Read more in the Monday, September 25, edition of The WV Daily News.
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