According to a new report from Governor Tom Wolf and the Team Pennsylvania Foundation, development in the Marcellus Shale region could fuel up to $3.7 billion in investments for the state.
The report, Prospects to Enhance PA’s Opportunities in Petrochemical Manufacturing, suggests the region will be a major economic driver for years to come. According to the analysis, “there will be significant potential for driving economic development and job creation across the state thanks to a variety of existing and future competitive advantages. Pennsylvania’s advantages for petrochemical processing and plastics manufacturing include cost and freight advantages driven by the availability and abundance of natural gas and NGL, proximity to high-demand North American end use markets, existing and planned infrastructure investments, a skilled workforce and specialized talent pipeline, and a well-established plastics manufacturing industry.”
“The Team Pennsylvania Foundation and our board sponsored the IHS Markit study in partnership with DCED to help Pennsylvania maximize the in-state economic benefits of our natural gas resources by generating new, high-paying manufacturing jobs; attracting investment; growing the supply chain and output in the plastics sector; and generating state and local revenue,” said Ryan C. Unger, President and CEO of the Team Pennsylvania Foundation.
According to Gov. Wolf, “The foundation for building a diverse and robust petrochemical and plastics industry was initiated with the decision by Shell Pennsylvania Chemicals to invest in Pennsylvania – and we must ensure that we make the most of this chance to create good paying jobs for Pennsylvanians.”
The Mariner East 2 project is exactly how we tap into this incredible potential. From the thousands of construction and manufacturing jobs, to the capacity to become our country’s next great energy hub, Mariner East is essential to any development in the Marcellus region.
With construction already underway, PEIA is thrilled to contribute to such a momentous opportunity.