The Texas Eastern Transmission Pipeline is the first of five new interstate pipelines that are coming to Ohio, and they’re bringing tremendous benefits along with them. Just the Texas Eastern Pipeline alone has brought $14 Million in tax revenue for three Ohio counties in the last year. And as Energy In Depth reported, “once all five of the lines are in service and through the first five years of operation, Ohio will receive $1.2 billion in local tax revenues.”
The Rover Pipeline, once completed, is projected to bring in a significant amount of tax revenue itself. In its first year of operation, Rover will bring in $135 million, and after five years it will generate $607.5 million. This additional tax revenue will help the state as a whole, and it will particularly benefit the counties through which the new pipelines run. Like “in Jefferson County, where natural gas production grew by 587 percent from 2015 to 2016, the county can expect to see a surge of new tax revenue from property tax paid on production as well.”
Ohio here is a perfect example of exactly how beneficial expanding our pipeline infrastructure can and will be. Once all of these projects are brought online, billions of dollars will come back into the state to help fund schools and parks, fire and police. Rover alone will generate more than half a billion dollars in five years, and it’s just one of four such pipelines that are set to be completed soon in Ohio. As Energy In Depth writes:
“This $14 million in NEW tax revenue to just three counties in only one year is not a projection — it’s a matter of fact, as we have clearly shown. When we consider the natural gas lifecycle, including the tax revenues that come from production of natural gas, pipelines and other midstream activities, and end-use of natural gas such as natural gas power plants, taxes from the oil and gas industry really start to add up and positively change lives.”
CEPI hopes these numbers will demonstrate to the country how important our pipeline network is, and spur a greater focus on building out this important facet of our nation’s infrastructure.