The planned subsea cable manufacturing plant by Prysmian Group in Somerset, which was expected to generate $14 million yearly in tax revenue and create 250 jobs, has been canceled. The project, announced after years of permitting, would have transformed Brayton Point into a hub for renewable energy following the coal plant's closure in 2017. Despite former state and federal support, including $25 million from former Gov. Charlie Baker, Prysmian backed out right before President Trump assumed office, who later imposed restrictions on offshore wind leasing.
"The economic impact of Brayton Point's transition to a renewable energy development will surpass the loss incurred by the closure of the coal-fired power plant."
"Prysmian has decided to not proceed with the purchase of the land in Somerset, and therefore will not proceed with the Brayton Point project."
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