Wind farms boost tax base for local U.S. governments-Moody’s

By Hillary Russ, Reuters

NEW YORK, May 7 (Reuters) – Wind farms have boosted local tax bases and generated new revenue as they expand across the United States, especially for rural areas, Moody’s Investors Service said in a report on Monday. “What we’re seeing is wind farms generate new operating revenues, lower the tax burden for local residents,” Moody’s analyst Frank Mamo told Reuters. “In many cases, local governments are using this new money to address what was a growing backlog of deferred capital expenditures.” In Adair County, Iowa, construction of 10 new wind farms has grown the tax base nearly 30 percent over the last decade, giving it money to fix bridges and streets. Read more here.

Photo: Renewable Energy Park by  hpgruesen / Creative Commons

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