EDINBURG - The City of Edinburg has approved a ten-year incentive package for construction of a natural gas power plant. Coronado Ventures plans to construct a 700-megawatt electric generating facility
The three-year construction process will also generate about 500 construction jobs. Once operational, the facility will employ 30 full-time workers with an average annual salary of $75,000.
The city’s agreement calls for Coronado Ventures, under a limited liability corporation called Edinburg Power, to invest $650 million to construct the natural gas-fueled power plant that will generate enough power for 350,000 homes.
Hidalgo County commissioners will provide up to four years’ worth of tax abatements while the facility is under construction.
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