OCR Text |
Show WATER FOR UTAH It is possible that these estimates are more conservative than warranted by what will actually occur in Utah upon full development of its irrigation potentials. By the same token, the development of hydroelectric energy on a major scale will also bring substantial increases in the wealth of the State. The five to six billion kilowatt- hours possible of generation at principal power sites in Utah, would provide revenues annually of between 20 and 24 million dollars to be applied toward repayment of the costs of the entire development. However, these sources of power will also provide an expanding base for industrial plant establishment, capital investment and employment. It is most difficult to estimate the precise level of these resulting improvements. In terms of investment, electro- process plants have a high ratio of capital investment to kilowatt consuming capacity, ranging from fifty to as high as several hundred dollars per kilowatt. For example, the phosphorus plants thought possible of establishment in Utah would probably require a capital investment of some 20 million dollars. Expenditures of this nature are likely for many segments of Utah's future industrial structure. In terms of value of manufactured products, a strong upsurge because of water and power availability might provide between a two and threefold increase by 1970. ... Repayment... The projects entailed in the development of Utah's water and power resources will require the investment of very large sums. However immense their estimated cost may appear to be when finally refined for authorization and appropriation purposes, the annual revenues derived from this development will be sufficient to meet all amortization and interest payments. These revenues will accrue directly from power sales revenues and payments for water consumed by farm users, municipalities and industry. There will also be certain minor allocations for resulting flood control and recreation improvements. Inasmuch as the envisaged projects are on a basin- wide basis, the actual segregation of costs and benefits within the State of Utah is not entirely practicable at the present time. A strict dollars- and- cents appraisal of benefits is necessary but by no means the sole guide for determining the magnitude and timing of projects for meeting the urgent water and pow* er needs in Utah. Human welfare, the stimulation of private enterprise, the wise and valuable utilization of resources which otherwise would remain dormant- these are resulting benefits which must be given concurrent and full consideration. In the long run, the investment for such developments by the people of the United States will result in improvements, the total returns from which will far outweigh the actual costs involved; the national security will be bulwarked and made stronger, the national economy will be provided outlet for its expansion in myriads of ways. What benefits Utah derives from these large- scale developments, it will repay directly and in terms of widely spread improvements for the opportunity- seeking people of the Nation. [ 127] |