TREASURE COAST — The Treasure Coast could receive $102 million in property taxes from Florida Power & Light during the next four decades because the power company has announced plans to run a 300-mile natural gas pipeline through the region.

It would also create 7,500 jobs, of which 3,500 will be for construction.

The pipeline, to stretch from the FPL Martin Plant in Indiantown north to Bradford County, west of St. Augustine, is to increase the supply of natural gas at the Riviera Beach and Cape Canaveral plants, which are being converted to reduce greenhouse gas emissions, said FPL spokeswoman Jackie Anderson. “We’re making them more fuel-efficient,” she said.

FPL believes it could complete the pipeline project by 2014. Still, approvals are needed from the Public Service Commission, the Florida Department of Environmental Protection and the U.S. Army Corps of Engineers before the project can begin.

The pipeline, estimated to cost $1.5 billion, is expected to have a 40-year lifespan.

Anderson said the project will cause no changes in customer bills for five years and over its life will end up saving customers money.

FPL also estimates the project will generate $400 million in property taxes to the 14 counties it affects, including Martin, St. Lucie and Indian River.

In Martin County, the pipeline would go north from the FPL plant in Indiantown into St. Lucie County. Then it skims the Indian River and Okeechobee County line, crosses through the western edge of Indian River County and heads into Osceola County.

“And 90 percent of this is going to be located along existing FPL transmission line right of way,” Anderson said.

The southern end of the pipeline would link to an existing one that runs south along Warfield Boulevard and the Beeline Highway.

The northern end of the pipeline would connect with one being created near Interstate 10, which will bring in the natural gas from places such as Texas, Louisiana and Arkansas.

For two years a Houston-based company, Floridian Natural Gas Storage, was planning a $600 million storage facility near Indiantown. Florida Natural Gas Storage said its plans stalled when FPL and other utilities refused to lease space in the facility.

FPL GAS PIPLINE

Estimated economic impact of FPL natural gas pipeline

14 Florida counties are expected to receive $400 million in property taxes over 40 years from the pipeline

$21 million: Martin County

$48 million: St. Lucie County

$33 million: Indian River County

Source: Florida Power & Light

The Miami Herald contributed to this report.

By Jim Turner, TCPalm.com

Tags: beach, Cape Canaveral, Florida, Florida Power & Light, FPL, Indiantown, Jackie Anderson, jobs, Miami, money, North, Okeechobee, property, Riviera Beach, taxes, utility

This entry was posted on Thursday, April 9th, 2009 at 8:50 am and is filed under Indian River County, Martin County, St. Lucie County. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.