Nearly $14 Billion Ready to Invest in Post-COVID Economic Recovery — Report
WASHINGTON, D.C. — A new report from the Consumer Energy Alliance details nearly $14 billion worth of economic activity is being threatened by delays, obstructions, and cancellations of pipeline infrastructure projects.
The report quantifies the potential economic harm that could result from infrastructure projects being impeded.
The CEA report describes how new energy infrastructure construction can add jobs and boost manufacturing and industrial demand.
The findings of the report, which examines a representative sample of states, demonstrates how new energy infrastructure construction activity could provide relief for struggling families and small businesses, put thousands back to work at wages far above the national average, and create demand in the manufacturing and industrial sector for steel, parts, services and a host of energy and construction supply chain needs.
Among the findings:
- Projects in New York, New Jersey and Pennsylvania could potentially bring more than $3.5 billion in economic activity, 17,000 jobs and over $50 million a year in tax revenues.
- Virginia, West Virginia and North Carolina could see $2.7B in economic activity, $7.5B in projected energy savings and 17,000 jobs created.
- The Line 5 Tunnel Project would bring $5.4B a year in economic activity in Southeast Michigan and Ohio
- The Line 3 Replacement Project in Minnesota is projected to add $35 million per year in new tax revenue, $2 billion in economic activity, $162 million in local construction spending and 8,600 jobs
- Shutdown of the Dakota Access Pipeline could cost farmers up to $1 billion per year in additional cost due to supply constraints
- The Keystone XL expansion is estimated to bring $3.4 billion in investment, 10,400 jobs and $55 million in local tax revenue per year across Montana, South Dakota and Nebraska
To read the full report, click here.
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