A recent economic study was released by Bay-area M-Cubed that analyzed the fiscal and economic impact of Poseidon Water’s proposed seawater desalination plant in Huntington Beach. The total capital investment has been pegged at $1.4 billion including the product water distribution system to convey the high-quality drinking water throughout Orange County while creating new, local jobs and tax revenue for Orange County.
The project will create more than 18 billion gallons of drinking water for Orange County every year – enough for 400,000 Orange County residents – that is locally-controlled and impervious to weather and climate conditions.
The new study concludes the Project will create more than 3,000 good-paying jobs during construction and about 300 direct and indirect jobs once the desalination plant comes online. At a time when unemployment in California is at an all-time high, a project that will bring good-paying jobs for community is critical.
Finally, the project will contribute almost $9.0 million per year in property taxes, of which approximately $1.5 million annually will go to the City of Huntington Beach’s General Fund, which can be used for police, fire and other public services. Approximately $3.7 million annually would go the Huntington Beach elementary and high school districts.
The Huntington Beach Project will be the largest property taxpayer in the City of Huntington Beach and the 8th largest property taxpayer in Orange County. The property taxes would represent an approximately 10% increase in the City of Huntington Beach property taxes and a 3.7% increase in the city’s total General Fund revenue.
As a public-private partnership, the Orange County taxpayers are protected. As a private company, Poseidon Water takes all the risk on permitting, financing, constructing and operating the desalination plant and the public water agency would only pay for the water at a fixed price if it is delivered at the quantity and quality specified in the contract.
This is a water reliability project that will create billions of gallons of water, millions of dollars in tax revenue and thousands of jobs for our local residents. Learn more about the benefits this water reliability project will bring to Orange County by clicking here.
“Desalination must be included in any discussion of future water sources for Orange County."
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