Well, some good economic news today.
A first of its kind energy project will mean more than 1500 construction jobs for Bell County Governor Andy Beshear.
The US Department of Energy and Ride Development today announced the Lewes Ridge Pumped Storage project.
It's a new kind of hydroelectric facility on the site of an old coal mine.
Next, the Cumberland River water flows from a high elevation reservoir of water into a lower one that turns turbines and generates electricity.
It's possible because of an $81 million federal grant.
Today we are announcing the Lewes Ridge Coal to Pumped Storage Hydropower Project, which has now been approved for $81 million in federal grants to help construct the first of its kind $1.3 billion project.
There is a coal to pump storage hydropower facility in Bell County.
We believe, again, this is the largest investment ever in eastern Kentucky.
The project will create about 1500 high quality construction jobs.
30 operate tional jobs, and will deliver enough clean energy to power about 67,000 homes annually.
The funding is through the U.S. Department of Energy's clean energy demonstration program and former My Land grant, which was funded through the bipartisan infrastructure law.
The project was approved for redevelopment to transition a former coal mine site adjacent to the Cumberland River to a pumped storage hydroelectric facility.
Congratulations to ride development and thank you to President Biden, Secretary Jennifer Granholm, Deputy Secretary David Turk, and the Department of Energy for supporting Kentucky.
As we continue to meet America's energy needs.
We are so proud to support a $1.3 billion project that builds on the region's strong energy production history while creating 1530 good jobs to help us power the next generation.
We look forward to moving ahead with this with with as much haste as we can.
It is a long term project and that's the part of this.
This is a commitment that's not just several years.
This is a development process that will take 7 to 10 years, including the building and a project that will last likely for a century.
This is something that is in Bell County, but for multiple counties it will impact Knox County, Harlan County, Clay County, Whitley County, a lot of counties in and around the area.
It will have a huge fiscal impact in that region, a region that if you knew the historical background, the sociological changes, you know, that was once a rich energy production area that had a population in that county of probably around 50,000 at one time that now has less than 30,000.
This is an opportunity to restore hope.