[vc_row animation=””][vc_column width=”1/1″][vc_column_text]Yesterday Williams announced that a recent study conducted by Penn State concluded that the Atlantic Sunrise Pipeline Project will have a significant, positive economic impact in both Pennsylvania and Virginia.
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_single_image css_animation=”” image=”7556″ border_color=”” img_link_large=”” link=”https://wellsaidcabot.com/wp-content/uploads/2015/03/AtlanticSunriseEconomicImpact.jpg” img_link_target=”_self” img_size=””][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]You can read the full release here on the Atlantic Sunrise economic impact, but for now here are some of the study’s key findings.
Key findings from the analysis include:
-
The design and construction of the project will require an investment of approximately $3 billion by Williams and the co-owner of the greenfield portion of the project.
-
The majority of the direct expenditures will be in Pennsylvania, with some materials and labor sourced from other states.
-
The multi-year construction phase of the project is expected to result in overall economic impact of $1.6 billion and could engage 8,270 workers in Pennsylvania and Virginia; the 10-county Pennsylvania region of the project is expected to recognize the majority of this impact.
-
The ongoing operations of the project are predicted to generate an annual economic impact of $1.96 million and support 29 direct and indirect jobs in two Pennsylvania counties (Columbia and Wyoming) where two new greenfield compressor facilities are proposed.
-
Significant federal, state and local taxes would also be generated during the approximate one-year construction phase, including an estimated $31 million in federal taxes and $18 million in state taxes across all county locations hosting construction activity for the project.
All thanks to the abundant Marcellus Shale production in northeastern Pennsylvania.[/vc_column_text][/vc_column][/vc_row]