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Duke pact signed today

Duke Energy executives, county commissioners, Rock Hill School District officials and Hamilton Township trustees were expected to sign the Duke Energy Hanging Rock LLC Enterprise Zone Agreement today.

Thursday, August 30, 2001

Duke Energy executives, county commissioners, Rock Hill School District officials and Hamilton Township trustees were expected to sign the Duke Energy Hanging Rock LLC Enterprise Zone Agreement today.

The tax incentive agreement is one of the final steps before earth will move on the multi-million dollar power plant project, slated for construction adjacent to County Road 1 near Hanging Rock.

The Enterprise Zone agreement gives the company a tax break in exchange for annual "donations" to Lawrence County, Rock Hill Local School District, Hamilton Township, Lawrence County JVS, Lawrence County MR/DD and the County Home Board of Health over the next 12 years.

Rock Hill Schools will receive $3.7 million in 2002, followed by $100,000 for the next two years and $573,500 in the remaining years. The fire department gets the majority of Hamilton Township’s $42,618 annual payment – about $30,000 a year. The county’s share will be $95,410, while MRDD’s share is $75,288. The vocational school will receive $145,743 a year beginning in 2005. The board of health will receive $8,591 per year.

County and school officials herald the coming of the Duke plant as good economic news.

The company says hundreds of local workers will be used during construction. Commissioners have said that not only the employment but local spending will boost the economy greatly.