LNG Economic Impact Report makes future look bright

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Story Published: Oct 23, 2006 at 10:30 PM PST

By Britt Carlson

The verdict is out on the economical impact that the LNG project will have on the local and state economies, and from a business perspective the outlook is positive.

The economic impact analysis conducted by ECONorthwest, an independant research company, focused on how the LNG project would affect property values, job creation and the overall economy.

Executive Director of the South Coast Development Council says, "In the study we found it will have a very dramatic, positive impact in our economy. The research firm picked out one year in the future, 2016, as a test year, and found that over time 1000 jobs would be created and over $400 million dollars in revenue would be raised for different businesses."

The report used a variety of research methods to show the true economic impact the operating LNG terminal would have in the future.

Opitz says, "The study not only weighed the effects of the existing LNG facilities it also took a very scientific look at the economy and general dollars generated, and economic multipliers that affected those numbers."

Opitz says he hops this analysis will calm the theory of no economic gain for the area.

To view the full analysis download the PDF: LNG Economic Impacts Report

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