Lawrence County economic authority transfers properties
IRONTON — Dynergy Hanging Rock II, a limited liability company, has paid $1.2 million to the Lawrence Economic Development Corp. for the property on which a power plant sits, according to property transfer records at the Lawrence County Courthouse.
The 65.89 acres included in the transfer is the property on which Duke Energy is located off County Road 1A west of Hanging Rock.
Meanwhile, Dynergy also sold off a separate 3.5-acre section to the Lawrence Economic Development Corp. for $35,700, according to a separate property transfer record at the office of the county recorder.
Duke has been operating a power generating plant at the site for more than 15 years. The company had been leasing the property from the Lawrence Economic Development Corp.
“It will give us money to invest in other projects,” said Bill Dingus, executive director of the development corporation. The LEDC also took the smaller parcel in trade from Dynergy as part of the transfer.
Dingus announced last week the development corporation and the chamber of commerce is seeking $750,000 in federal grants from the Appalachian Regional Commission and in community development block grant funds to develop the Southern Ohio Development District near the Duke Energy plant.
The development corporation is working with Innventure and PureCycle Technologies to develop the former Dow Chemical property off County Road 1A.
Innventure is building a pilot plastics recycling plant at the site. The company is planning to build a full-scale $200 million plastics recycling plant at the site, according to company officials.
The full-scale plant could be operational by late 2020 or early 2021. It could employ about 70 people.