David Owen: Carbon sequestration projects vital to the future of South Dakota
By Doug Owen
The Aberdeen Insider
The multi-billion-dollar Summit Carbon Solutions carbon capture sequestration pipeline represents the future potential of agriculture, energy and ethanol in our state, along with prosperity of the businesses, communities and families that depend on them.
This groundbreaking project will traverse 2,000 miles across Iowa, Minnesota, North Dakota, South Dakota and Nebraska.
If approved, it will spur tremendous economic growth in South Dakota, according to an analysis from the accounting firm Ernst & Young. During the construction phase, total South Dakota investment is expected to reach $795 million, total labor income in South Dakota is estimated at $440 million and state and local taxes paid by Summit will reach $74 million. During the operations phase, annual income to South Dakota businesses and employees is estimated at $37 million, while state and local taxes paid by the project are anticipated to reach $15 million.
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