FINANCIAL_SERVICESAPPROVED

Spencer County Awards Financial Services Contract to Indiana Michigan Power Company (July 2026)

Spencer County approved an economic development agreement with Indiana Michigan Power Company for a 1500-megawatt natural gas facility, tying EPB payments to at least $144 million or 4% of construction costs. The deal includes a 10-year 100% abatement with all abatement-related payments remaining in the county.

Status
APPROVED
Document date
July 21, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Indiana Michigan Power Company
Agency
Spencer County · IN

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
The total EPB obligation is the greater of $144 million or 4% of the project construction cost
Contract type
FINANCIAL_SERVICES
Contract term
At least the 10-year abatement period
Renewal
Agreement is structured around a minimum 10-year abatement period; any extension or modification would require further approvals.
Document type
Minutes
Source document
Spencer County Commissioners Minutes 2026-07-21

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Spencer County?

Indiana Michigan Power Company was awarded this financial services contract by Spencer County, as recorded on July 21, 2026. The contract value is The total EPB obligation is the greater of $144 million or 4% of the project construction cost.

How much is the Indiana Michigan Power Company contract with Spencer County worth?

The Indiana Michigan Power Company contract with Spencer County is valued at The total EPB obligation is the greater of $144 million or 4% of the project construction cost, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Spencer County Commissioners Minutes 2026-07-21 (Minutes), dated July 21, 2026 from Spencer County. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Indiana Michigan Power Company hold?

Indiana Michigan Power Company may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Indiana Michigan Power Company's profile

What is Spencer County currently buying?

Explore Spencer County's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Spencer County's profile

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