Local officials say they’re disappointed, but not entirely surprised Alliant Energy has decided not to build a coal-fired electric plant in Marshalltown. The $1.5 billion facility was expected to employ up to 1,500 people.
Dick Hierstein, the Marshalltown city administrator, says the city had worked closely with the company for the past two years on plans for the plant. "There were a lot of positive impacts from the project, if it were to occur," Hierstein says. Joel Akason, president of the Marshall Economic Development Impact Committee, says while he’s disappointed, he and others weren’t totally surprised by today’s announcement.
"Businesses make decisions every single day and Alliant’s a good business. They made a very prudent financial business decision," Akason says. "I think everybody around here fully understands that and maybe somewhat suspected that when the numbers were given on February 4th."
About a month ago, the Iowa Utilities Board did not grant Alliant Energy’s request for a 12.5% return on their investment, instead allowing the company a 10 percent return on investment, had the plant been built. The plant would have been built by Interstate Power and Light, a subsidiary of Alliant Energy.