Vermont Green Line will bring many benefits to New England energy consumers, as well as Vermont and New York residents and businesses.
Benefits to Vermont
The Vermont Green Line will benefit Vermonters by:
- Lowering Vermont’s energy costs by approximately $40 million with the delivery of affordable renewable energy.
- Providing direct municipal tax revenue to the towns of Ferrisburgh, New Haven and Waltham
- Providing additional payments, above and beyond the necessary tax payments, to Ferrisburgh and New Haven
- Promoting local economic development with an estimated $300-$350 million in local investment that will generate:
- An average of 500 jobs to the Vermont economy during construction, with a peak of 760 jobs. About a quarter of those jobs would be construction-related, the remainder would be indirect jobs.
- An estimated $21 million to $23 million in state taxes from construction activities (payroll and equipment/materials)
- Improving grid reliability
Benefits to New York
- Making payments in lieu of taxes to Beekmantown
- Investing an estimated $150-200 million locally, which will generate:
- An average of 300 jobs during construction with a peak of 450 jobs. About 15% of these jobs would be in construction, the remainder would be indirect jobs. (Payroll expected around $55 million over 3 years)
Benefits to New England
The Vermont Green Line will benefit New England energy customers by:
- Saving customers approximately $500 million with the delivery of affordable renewable energy; currently, energy bills in New England are among the highest in the country
- Lowering power production costs by approximately $900 million
- Helping to meet increasing state requirements for renewable energy and avoiding approximately $1 billion in “alternative compliance payments” over 20 years