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 synthetic aviation fuel.
Today, ethanol supports 340,000 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
Decision Innovation Services (DIS) 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.
Project-Wide Findings (Construction Phase)
|
Total Investment |
$8.9 billion* |
|
Total Average Annual Jobs Created |
12,293 |
|
Total Federal, State, Local Taxes Generated by the Project |
$752 million |
|
Total Income Paid |
$2.1 billion |
|
Total Right-of-Way and Other Landowner Payments |
$776 million |
*this number is subject to change and based on internal calculations
Project-Wide Findings (Operations Phase)
|
Annual Expenditures |
$377 million |
|
Total Jobs Supported |
1,200+ |
|
Total Labor Paid |
$122 million |
|
Total Federal, State, Local Taxes Generated by the Project |
$206 million |
Environmental Benefits
