Creighton Economist: Keystone XL to Generate $1.8 Billion for Nebraska’s Economy

January 17, 2013
Dr. Ernie Goss, an economist at Creighton University, has concluded that the Keystone XL pipeline would generate $1.8 billion in “overall economic activity”.
Below are highlights of Goss’ report, as reported by the Kearney Hub:
·         he KXL project would generate $1.8 billion in “overall economic activity” in Nebraska from 2013 to 2029;
·         TransCanada will spend about $580 million in the state during the two-year construction phase and $570 million more during subsequent years of operation;
·         the project would create 5,500 jobs during construction and 302 jobs afterward. The figures include both direct and indirect jobs, paying an average annual salary of $38,000, Goss said; and
·         the pipeline would result in $58.6 million in property taxes, $39.1 million in sales taxes, $23.4 million in income taxes and $13.5 million in other taxes.
Opponents of the KXL cried foul because the data used was from TransCanada.  Goss said that the data was from the company and he “conducted an independent analysis of the data without outside influence”.
Opponents like to site a report from Cornell University.  By and large this report is an attempt by extreme environmentalists to create negative opinions of the KXL project, yet their findings show job creation and economic growth.
Again, the best opponents can point to is a study that agrees that there will be positive economic impact from KXL!
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