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Thursday, July 2, 2015

NEXUS Gas Transmission Pipeline Brings Much Needed Energy Infrastructure & Jobs

NEXUS Gas Transmission recently filed its full set of draft Resource Reports that indicates six Ohio customers, including local distribution companies and industrial parks, have executed contracts to access supplies from the proposed pipeline route. According to Draft Resource Report 1 filed on June 12th, NEXUS has secured customers and supports future residential, commercial and industrial growth in Columbiana, Wayne, Medina, Erie, Wood and Lucas Counties.

The existence of Ohio based customers is just one example of how this kind of critical energy infrastructure will create an environment of economic growth that directly benefits all Ohioans. The opportunity to invest in Ohio’s energy infrastructure that will provide affordable, clean burning natural gas to homes, businesses, and communities has never been greater.

While the proposed route and facilities will support customers in six Ohio Counties, it has the ability to support many more in the future. The economic benefits of this type of energy infrastructure are clear, driving growth in the region even after they are built and placed in-service and creating cost savings for consumers already located in the region. According to a recent market study conducted by the Analysis Group, the preferred route of the NEXUS pipeline could save Ohio consumers up to $31 million annually in electricity costs.

In addition to driving economic growth and saving consumers money on their electric bills, this project will also create jobs. A study conducted by The Ohio State University and updated by EPR Economic & Policy Resources determined that the NEXUS pipeline project would create 5,384 jobs in eleven counties in Ohio. The study also estimated that labor income would be $568 million as a result of the construction and operation of the pipeline in Ohio. Additional income estimated at $702 million will pour into our communities benefitting restaurants, hotels, hardware stores and other local businesses.

These projects also generate significant revenues for the local governments where they are located. NEXUS has estimated that the project will contribute more than $42 million dollars in new tax revenue to support Ohio businesses, communities and school districts.

The NEXUS pipeline project is being developed by Ohio Chamber member Spectra Energy Corp.

As the state’s leading business advocate and resource, the Ohio Chamber of Commerce aggressively champions free enterprise, economic competitiveness and growth for the benefit of all Ohioans. The Ohio Chamber fully supports and endorses the NEXUS pipeline because it will enhance Ohio’s competiveness and help grow our economy.
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