New $1 Billion PSNH/Hydro-Quebec Project Will Bring Renewable Hydro Power to NH, Create up to 1,200 Construction Jobs in New Hampshire
New Converter Station in Franklin Will Generate Jobs, Expand City’s Tax Base
FRANKLIN – Gov. John Lynch tonight joined officials from Public Service Company of New Hampshire and the city of Franklin to announce a new project that will create 1,200 construction jobs in New Hampshire, expand Franklin’s tax base, and expand New Hampshire’s supply of renewable power.
PSNH and Hydro-Quebec have formed a partnership that will bring 1,200 megawatts of renewable hydroelectric power into New England, which will create 1,200 jobs building a transmission lines and a new converter station in the City of Franklin. The project is expected to pump about $1 billion into the New Hampshire economy, and is scheduled to begin in 2013.
“As Governor, my top priority is getting people back to work today and preparing New Hampshire to compete for good jobs in the future. That is why a key piece of our state’s economic strategy is our comprehensive energy plan – which is putting people to work increasing energy efficiency and bringing new renewable power sources to New Hampshire,” Gov. Lynch said.
“People in Franklin, and across New Hampshire, will see the results of our economic strategy through this project,” Gov. Lynch said.
A converter station will be constructed in Franklin and is expected to cost between $250 million and $350 million, which will expand the city’s tax base.
“As we emerge from this recession, my focus has been getting people back to work now and making sure New Hampshire is positioned to continue to lead the nation’s economy in the future,” Gov. Lynch said. “This project helps further both those goals. It is going to help put people back to work, especially the men and women in the construction industry, and it will make our state even stronger for the future.”
“This is a great day for the City of Franklin and the State of New Hampshire,” Gov. Lynch said.