Last year, Ullico made a $58 million investment in Carroll County Energy Plant (CCE), a 700-megawatt combined cycle natural gas electric generating facility to be constructed in northeastern Ohio.
The new power plant is scheduled to be fully operational by January 2018. As the project moves toward that goal, several notable milestones have been achieved (see table below).
Approximately 700 union construction jobs are expected to be created during peak construction as well as 20 to 30 well-paying permanent jobs during operation.
“Since the groundbreaking just over a year ago, this project has already employed more than 400 building trades members, with more to come, along with competitive returns for investors,” says Joe Linehan, president of Ullico Investment Advisors Inc.
“Union members are helping to build this much-needed infrastructure,” says Ed Smith, president and CEO of Ullico. “In addition to creating good paying construction and operating jobs, this project will produce efficient, low-cost energy for families and businesses in Ohio, Pennsylvania, New Jersey and Maryland.”
Disclosures: UIF is managed by Ullico Investment Advisors, Inc. and is sold through Ullico Investment Company, Inc. (Member FINRA/SIPC), both subsidiaries of Ullico Inc. (“UIA”) is a registered investment adviser with the SEC under the Investment Advisers Act of 1940, as amended (“Act”). UIF will only be sold to “accredited investors” as that term is defined in Regulation D of the Securities Act of 1933.
Investment in infrastructure is speculative, not suitable for all investors, and should be undertaken only by experienced and sophisticated investors who are willing to bear the high risks of such an investment, which include, but are not limited to, lack of liquidity, restrictions on transferring ownership to the Fund, absence of information regarding valuation and pricing, and high fees and expenses. Potential investors in the Fund should carefully read the Confidential Private Placement Memorandum for a description of the potential risks associated with investment in the Fund.