Southern Indiana Business Report
Two solar projects in Pike County that will provide economic benefits to the local economy were celebrated with a ribbon cutting Thursday.
Ratts 1 and Heirloom represent a nearly $400 million investment. The projects will disburse more than $86 million to local governments over their lifetime, supporting schools, infrastructures and other local services, according to information from project developer Arevon Energy.
For Pike County, the projects represent a long-term investment, bringing new private capital and new tax revenue.
Local leaders view the completed projects as a way to strengthen the economy, ease the tax burden on residents and support local schools.
“I’m very excited for this capital investment, millions of dollars that will be poured into Pike County and our community. Pike County has long been a coal-fired power generation community, but we’ve seen the downturn in that economy,” said Ashley Willis, executive director of Pike County Economic Development. “Now, we’re transitioning to a new energy economy, and renewables are part of that future.”
Willis said the primary benefit the county will see from Ratts 1 and Heirloom solar projects is the increase in assessed value.
“Solar land will be valued at four and a half times higher than agricultural land. That is critical for us because it will help reduce tax rates for our citizens over the long term,” she said.
Dr. Suzanne Blake, superintendent of Pike County School Corporation, said the increase in tax revenue will allow the district to make needed improvements.
“Pike County School Corporation is unique in its design as a single K-12 school district encompassing the entire county. Schools in Indiana rely on two primary sources of funding: ADM (Average Daily Membership) funding based on student enrollment and local property tax revenue. The school district and the county government each receive about 43% of the local property tax revenue. This is a significant source of revenue for the school district which will be used to improve our school facilities, replace aging infrastructure, and increase the educational opportunities offered to all students in our district.”
More than 200 jobs were created during the construction phase, which began in 2024. According to Arevon, a 2020 study by the Gnarly Tree Sustainability Institute, in collaboration with Dr. Kenneth Richards of Indiana University’s O’Neill School of Public and Environmental Affairs, and projections from Arevon estimates the projects would add about $27 million to Pike County’s GDP during construction, with about $1.1 million per year expected during operations.