It’s easy to list the reasons that rural communities love wind — they provide a new source of tax revenue for counties and townships, lease payments for rural landowners, new jobs and economic development in areas that need it most, and they help to fund community projects and schools.
Now, a new report from Moody’s Investors Service highlights how wind projects are boosting tax revenues and helping erase debt in rural communities that host them.
A utility-scale wind farm is a multimillion-dollar project that provides a significant new source of tax revenue for the counties and townships through the Wind Energy Production Tax. Since 99 percent of wind projects are built in rural America, wind farms provide relief for small, rural towns that need it most.
According to Moody’s, wind farms have improved the finances in more than 400 counties in 41 states, which is more than double the counties that had wind farms 10 years ago. This new source of revenue provides funding for local infrastructure projects like improving roads and bridges, community projects and schools, or holding the line (or even cutting) property taxes paid by citizens.