Like most states, Texas is trying to find sources of general revenue to help overcome a projected budget deficit.
WCS can’t provide all of the funds Texas projects will be needed to close the deficit, but we can help.
Texas will receive five percent (5%) of the gross revenue from disposal of both Compact and Federal low-level radioactive waste (LLRW) at our facilities. With the Compact facility expected to be operational by the end of the year and the Federal facility expected to be operational by early 2012, the revenue taxes to Texas should start flowing soon.
We estimate that Texas could receive up to $20 million per biennial through the collection of this 5% gross revenue tax on LLRW disposal. That won’t solve the budget deficit, but $20 million is nothing to sneeze at in these economic times. In addition, our facilities will provide a solution for LLRW that needs a place for permanent disposal, without increasing the risks and liabilities to the State.
We are already constructing the facility and have over 100 construction contractors on site. Additionally, we will hire about 60 more permanent employees and have already started posting job openings on our web site at www.wcstexas.com. WCS is doing our share to jump start the local economy and provide additional tax revenue to Texas.
Rod Baltzer is President of Waste Control Specialists LLC. This post originally appeared on the Texas Solution blog on February 17, 2011.
