News Releases for September 2002
September 16, 2002
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Tax Incentives Spur Major Wind Farm Developments
BISMARCK, N.D. - The face of energy in North Dakota is changing forever as wind farms begin harvesting one of the state’s infinite, greenest and cheapest natural resources. Since January, several towers have been announced, including two wind farms to be built in southeastern North Dakota. In addition, other large wind farms are now under consideration.
The sudden advent of wind production can be traced to three new tax incentives relating to solar, wind and geothermal energy adopted by the 2001 North Dakota Legislature. They include investment tax credits, property tax exemptions and sales tax exemptions.
“Wind farms are coming to North Dakota because we worked with the 2001 North Dakota Legislature to put together a great incentive package,” said Governor John Hoeven. “Without those incentives, we could not effectively compete with other states vying for wind projects. The incentives attracted the attention of power companies and helped secure North Dakota’s place as a wind energy producer.”
Rep. Mike Brandenburg, Edgeley, a member of the House Finance and Taxation Committee, helped steer the bills through the 2001 legislative session. “The investment tax credit is the No. 1 reason the wind developers are in North Dakota. The wind farms mean jobs and economic growth for rural communities,” said Brandenburg. “As far as adding to the economy, a large wind farm is like having 100 new grain elevators in the county.”
Lee Peterson, commissioner of the North Dakota Department of Commerce, said, “The key to success in wind energy is many people working together. The incentives are the result of a united effort by local leaders, Governor Hoeven and the 2001 Legislature. It proves that we are getting things done by doing things differently.”
Brandenburg said that continued success of wind generation depends on groups such as coal and wind energy officials, local communities and the state working together. “If we work together, in 10 years I think we will have 1,000 wind turbines and two-to-three new power plants in the state. That will be a real boost for the state as a whole and especially for rural areas.”
Governor Hoeven added, “Energy is one of the six pillars our administration has identified to build North Dakota’s future. Wind energy is clean, efficient and unlimited. We have worked hard to begin taking advantage of its potential.”
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