The Area Development Partnership and members of Strata Solar made a proposal to the Forrest County Board of Supervisors during Monday’s meeting.
ADP President Chad Newell and officials representing Strata Solar pitched their proposal for a tax abatement agreement, which is an initial agreement before the project is built.
The project is the proposed 460-acre solar farm located in south Hattiesburg near the Bonhomie Road.
The agreement was accepted and passed by the board of supervisors.
“Strata Solar is projecting a 90 million dollar capital investment here in the city of Hattiesburg and Forrest County,” Newell said.
Newell added that the construction process of the facility will add about 400 construction jobs in 2016.
“It will put green energy on the grid which is very attractive to major corporations who are looking to invest in areas around the globe,” Newell said. “The project in and of itself, it has a tremendous impact and then I really think it will help our future business recruitment efforts as global companies look to make capital investment decisions.”
According to the agreement, the company has to make the capital investment here in the community.
“The great news is, even with a 10 year statutory tax exemption in place, there is non-abatable millage for area schools, so Forrest County Schools can benefit directly once the project is put in to place,” Newell said.
Newell added that the projected school tax revenue for Forrest County Schools will be well in excess of $700,000 per year.