The FDS Project includes the investment of more than $800 million for initial construction of the FDS Coke Plant and FDS Co-Generation Facility. This investment will transform a vacant underutilized industrial property into an economic engine for the Toledo-Lucas County area and State of Ohio.
The non-recovery coking process and co-generation of electricity will operate for at least 40 to 50 years. This will secure high wage industrial manufacturing jobs, provide for significant long-term increases in local and state tax revenues, and offer a stable source of zero emission electricity well into foreseeable future.
FDS Project will require approximately 2 years for construction. During this time period, anywhere from 1,000 to 1,500 workers will be required to build the FDS Coke Plant and FDS Co-Generation Facility. Many of the jobs will be filled by local people from Northwest Ohio.
As part of construction, detailed project site design and engineering activities will also have to be completed. Completion of these tasks will use many workers employed by site development and engineering firms in Ohio.
FDS estimates that the FDS Coke Plant and FDS Co-Generation Facility will require approximately 150 direct employees. These direct jobs are expected to provide individual wages above the 2004 Median household income of $38,000 for Lucas County. As a result, the FDS Project will support local prosperity.
FDS anticipates beginning to hire local workers for operating jobs about 6 months before startup of the FDS Coke Plant and FDS Co-Generation Facility. Therefore, workers hired for the FDS Project can expect secure jobs into the future.
Industrial plants the size of the FDS Coke Plant and FDS Co-Generation Facility need numerous local businesses to provide products and services that go to support its operation. Local jobs will be created indirectly from the creation of these businesses. Existing businesses will also benefit from increased income of resident workers and from spending by non-resident workers.
Taxes and Other Governmental Revenues from Operations
The FDS Project will generate tax revenue for the local governmental entities, area schools, and the State of Ohio. The project will be part of a joint economic development zone between the Cities of Toledo, Ohio and Oregon, Ohio
Demand for energy is expected to grow more than 50% by 2020. Companies in Ohio require reliable and competitive energy including electricity to grow and prosper. Ohio residents increasing want sustainable energy sources that do not result in additional environmental impacts.
The FDS Co-Generation Facility will annually generate approximately 1 million MegaWatt-hours of electricity using stream produced by waste heat from the FDS Coke Plant. As a result, no air pollutants will be emitted to produce the electricity.
The electricity generated by the FDS Co-Generation Facility will serve as a model for additional industrial co-generation projects in Ohio. We believe FDS and other industrial co-generation projects could generate up to 1,000 MegaWatts of electricity, thereby, eliminating the need for an additional power plant by 2020