(Massena) A Wind Turbine investment meeting is slated for 7:30 this evening at the Massena Legion Hall. The meeting will discuss the opportunities for investing in the Cumberland Rose Wind Energy project which includes wind turbines near Wiota, Orient, and Greenfield.
“The first two turbines have performed so very well and way above expectations as far as production which is driving this,” stated Randy Caviness Greenfield Power Manager. “The local bankers have seen what we have done and how this thing works, not mention General Electric’s dedication to us and the eight turbines put up in this area owned by in their words…farmers.”
Caviness said General Electric operates the turbines.
“We think we are in sound footing and not farmer’s trying to run it, but enjoying the benefits of a great investment that also benefits the community. The turbines will generate about $2 million worth of tax credits to the community.”
The cost of the shares is $35,000 in Cumberland Rose, Meadow Ridge and Greenfield Wind and Power with a $26,000 state tax credit that can be earned over the next ten years. The credits can used against both state and federal tax returns or sold for around .88-cents on the dollar.
“So if a person is interested in saving money on their taxes and looking for a greater return than a money market, investing in a wind turbine might be something they seriously want to consider.”
Each of the 34-shareholders can then expense their share of the $2.4 million eligible costs. There is also a cash dividend scheduled to be paid each year.
For more information on the meeting, or the wind turbine projects contact Randy Caviness at 515-250-8200 or by email at firstname.lastname@example.org.
June 14, 2012
9:00 a.m. newscast