North Carolina is one of the fastest growing states in the nation. So much so that demand for natural gas as a fuel for power generation in our state and Virginia is projected to more than double over the next 20 years. Currently our state is supplied by only one natural gas line the size of the ACP and it is more than 50 years old. Without reliable energy, North Carolina’s economy cannot succeed. The ACP will connect us to the nation’s largest supply of clean, natural gas — making our region energy sure.
Upon the ACP’s completion nearly one third of the pipeline’s infrastructure will be buried beneath eight North Carolina counties. The pipeline will enter into the state in Northampton County, which will also house a compressor station, then travel southwest and end in Robeson County.
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The ACP is going to have a significant impact on tax revenue for North Carolina. During construction, it is estimated that the state government will receive $1.1 million in tax revenue per year. What could a million dollars mean to North Carolina? Potentially, additional funding for roads, schools and other community improvements.
Upon completion of the ACP and compressor station, the pipeline is expected to contribute nearly $7.7 million in annual local property tax revenue. The ACP will also be a large job producer for North Carolina. Construction of the pipeline will support more than 4,400 jobs. Once in operation, the lower energy costs resulting from the pipeline could support the creation of 900 full-time, well-paid jobs in North Carolina.
While new jobs and tax revenues will certainly be benefits of the ACP, its main benefit will be the new source of energy it brings to North Carolina. Concerns over restricted energy supplies and disruptions can be a barrier in attracting new businesses and industry to our state — especially in the eastern part of North Carolina where the ACP will run. Before businesses will relocate or expand, they must first be able to count on a reliable supply of affordable energy. The ACP will provide a new, dependable supply of natural gas, making it easier for businesses to grow and create new jobs. A more reliable source of natural gas also means more consistent energy prices, making it easier for homes and businesses to budget with less volatile bills.
North Carolina’s homes, businesses and industries depend on reliable energy, and capacity has reached its limits. The Atlantic Coast Pipeline is the best way to make us energy sure by connecting our region to a new supply of clean, affordable and reliable natural gas.