KINGS MOUNTAIN, N.C. -- Kings Mountain is netting their second largest economic development deal ever. Florida-based NTE Energy announced Monday Kings Mountain will be the home of their new $500 million natural gas power plant.
The town of nearly 11,000 has had a rough go of things in years past says Mayor Rick Murphrey.
"With all the new trade agreements and so forth, it was very difficult for textiles to compete. And we did diversify the different industries, and then we had the Wall Street-Main street financial collapse,” said Mayor Rick Murphrey.
He says this is the second largest development behind AT&T's data center.
The mayor added, however, it could be more profitable.
“They're buying water, sewer, electric and natural gas,” said Mayor Murphrey.
Murphrey says they're expecting millions of dollars in annual income.
NTE says they hope to break ground in 2015 and be up and running around 2018. They say they'll only be catering to municipal or wholesale customers, not homes.