For Release — December 8, 2014
Business Council applauds pipeline decision
ALBANY, N.Y.— The Constitution Pipeline is a much needed component of a more robust energy supply infrastructure in New York State. The Business Council of New York State applauds the decision by the Federal Energy Regulatory Commission (FERC) authorizing its construction.
The construction of the Constitution Pipeline will have a significant positive economic impact. The Center for Governmental Research (CGR) has projected that the economic impact during the construction phase could result in:
- 1,300 direct jobs in the construction industry and 275 spillover jobs;
- $130 million of direct labor income, $26 million going to region residents;
- $12 million in spillover income with about $11 million going to the region; and
- $17 million in sales and income tax revenue from increases in income (both direct and spillover) and project spending.
- Once operational the pipeline’s economic impact could result in permanent jobs and increased payrolls in the region, as well as an additional $13 million in sales, income and property tax revenue.
Once completed and online in 2015, the Constitution Pipeline will help mitigate natural gas price increases in the state and reduce spikes in gas prices during periods of high demand. Extreme cold weather events during last year’s winter season stretched our current energy infrastructure’s ability to meet regional energy demand, and illustrated the need for significant investment in pipelines.
The Constitution Pipeline will also facilitate local access to natural gas with local franchises already established in Sidney and Bainbridge. Local distribution will assist homeowners and businesses in accessing lower cost, cleaner natural gas.
Expanding natural gas supplies and its transmission system is critical to ensuring New York’s access to an affordable and reliable supply of clean energy.