New Study Shows Summit Carbon Solutions Will Drive Economic Growth Across the Midwest
A new study from Ernst and Young shows that Summit Carbon Solutions proposed carbon capture and storage project will create jobs, generate new property tax revenue for local communities, support local suppliers, and strengthen the regional economy.
From the outset of this project, Summit Carbon Solutions has been committed to opening critical new markets for ethanol producers, bolstering the bottom line of corn growers, and making significant progress in decarbonizing a critical Midwest-based industry. This latest analysis shows the overwhelmingly positive impact of this multi-billion-dollar investment, including the creation of thousands of new high-quality jobs, the utilization of local suppliers and main street businesses, and tens of millions of dollars in new tax revenues that will help local communities fund our roads, hospitals, first responders, and more.
Project-Wide Findings (Construction Phase)
|Total Investment||$3.7 Billion|
|Total Investment (Iowa)||$987 Million|
|Total Investment (North Dakota)||$898 Million|
|Total Investment (South Dakota)||$795 Million|
|Total Investment (Nebraska)||$541 Million|
|Total Investment (Minnesota)||$462 Million|
|Total Average Annual Jobs Created||11,427|
|Total Federal, State, Local Taxes Paid by SCS||$371 Million|
|Expenditures to Suppliers, Contractors, and More||$2.1 Billion|
|Total Right-of-Way and Other Landowner Payments||$309 Million|
Project-Wide Findings (Operations Phase)
|Annual Expenditures||$170 Million|
|Total Jobs Supported||1,170|
|Expenditures to Suppliers, Contractors, and More||$78 Million|
|Total Federal, State, Local Taxes Paid by SCS||$97 Million|
View the full report or individual state fact sheets.