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Monday, August 29, 2016

Study: Utopia East Pipeline Would Generate $237 Million for Local Economy Over First 5 Years

From The Toledo Blade:
A Kent State University report being released Tuesday will show that the proposed $500 million, 240-mile Utopia East pipeline will generate $237.3 million over its first five years for Ohio’s economy. 
Results of the study were announced by Allen Fore, Kinder Morgan vice president of public affairs, during a noon luncheon speech hosted by the Rotary Club of Toledo. Held downtown at the Park Inn, the event was attended by about 200 people. 
Mr. Fore told The Blade after his presentation that Kinder Morgan, North America’s largest pipeline company and the one behind the Utopia East project, hired two Kent State economics researchers to do the economic-impact study. 
The breakdown includes a projected $144.9 million in new jobs, income, and local spending; $87.5 million in Ohio residents’ earnings, and $4.9 million in tax revenues. The project is expected to create 2,132 new and indirect jobs, about 900 of which would be construction jobs in 2017.
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