Mike Ralston, president of the Iowa Association of Business and Industry (ABI) reiterated his support for the Dakota Access Pipeline project underscoring its importance to the business climate of the state. As the voice of Iowa business, ABI has long advocated for a competitive business climate in the state and sought to support investments that would benefit the state economy. According to Ralston, the Dakota Access Pipeline does just that:
“The Dakota Access Pipeline will provide a boost to our state’s economic growth in a variety of ways. These benefits go well beyond the direct private investment. During construction, thousands of workers will live in local hotels, eat at locally-owned restaurants and buy gas at area gas stations. The construction work alone is expected to generate $35.3 million in sales taxes and $14.6 million in income taxes. All of this new revenue will be invested back into our state and local communities.
(…) The employment opportunities, an influx of new revenue to businesses along the pipeline’s route and future benefits for our state and local communities are all examples of why this project makes sense for Iowa. After construction, the pipeline will deliver more than $27 million in revenue to our local communities. This means even more potential funding for schools and community services and programs.”
In addition to improving Iowa’s economy, Ralston points out the benefits to the nation’s energy market:
“This project also represents an investment in domestically produced energy, which is beneficial to all Iowans. The United States is now the largest oil and natural gas producer in the world. This not only helps the many businesses engage in these efforts, it also helps us here in Iowa as a large consumer of petroleum products for our agriculture and manufacturing industries.”
To read Ralston’s complete remarks, click here.