MICROSOFT CLARITY

Agricultural Benefits

Summit Carbon Solutions will open new economic opportunities for the ethanol and agricultural industries that are so critical to the Midwest economy. Our carbon capture and storage project will put the ethanol produced at our 57 partner facilities on track to become a net-zero fuel by 2030. This will allow these plants to sell their product at a premium in the growing number of states and countries that have adopted low carbon fuel standards, as well as allow them access to emerging markets like sustainable aviation fuel.

Today, ethanol supports 360,000 jobs and contributes $45 billion to the annual U.S. GDP. But maybe most importantly, ethanol plants purchase approximately half of all the corn produced in the United States. Summit Carbon Solutions’ investment will strengthen this marketplace even further for farmers, while maintaining strong land and commodity prices.

Economic Benefits

Ernst & Young, a global leader in accounting, conducted a study that found Summit Carbon Solutions’ proposed carbon capture, transportation, and storage project will create jobs, generate new tax revenue for local communities, support local suppliers, and strengthen the Midwest regional economy.  More details can be found here.

Project-Wide Findings (Construction Phase)

 

Total Investment

$8 billion*

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

 *this number is subject to change and based on internal calculations

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

Environmental Benefits

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Once completed, Summit Carbon Solutions’ Project will be the largest carbon capture and storage project in the world. This project will have the capacity to capture and permanently store up to 18 million tons of CO2 every year. That’s the equivalent of removing 3.9 million vehicles from our roads annually.