A new report claims a proposed data center in Stokes County will generate far less tax revenue than the developers have projected.
Economist Michael Hicks of Shenandoah University estimates that Project Delta will generate between $20 and $40 million in tax revenue over 10 years. The developer, Engineered Land Solutions, has said it could generate that much every year.
The disparity comes down to a disagreement over how big the project will ultimately be. Hicks based his estimates on a $1 billion investment. ELS has said that number could top $7 billion at full build-out.
“That is just I think not consistent with the observation of data center deployments around the country," Hicks said at a press conference. "It's just not plausible.”
In a statement, ELS CEO Drew Nations said the report doesn’t adequately explain why the project wouldn't reach full build-out.
"We stand by our tax revenue projections of $40 million per year at full build-out — enough to make Stokes County teachers among the highest-paid in North Carolina while simultaneously cutting property taxes," he said.
The research was funded by the Southern Environmental Law Center, which previously sued Stokes County over the project's rezoning.