Nebraska Chamber Welcomes Keystone XL Approval

Nebraska Chamber Welcomes Keystone XL Approval

Friday, March 24, 2017 - 11:30am

LINCOLN – Nebraska Chamber of Commerce and Industry President Barry Kennedy on Friday welcomed the State Department’s approval of the cross-border permit needed for the advancement of the Keystone XL pipeline.

 

“The Nebraska Chamber fully supports the Keystone XL project because of the benefits it will provide to Nebraska’s families and the state’s economy, as well as America’s long term energy needs,” Kennedy said. “Nebraskans will always be part of the solution, not part of the problem.”

 

Kennedy said that with millions of dollars to be realized in new, local property tax revenue – as well as thousands of jobs coming to dozens of Nebraska communities – the Keystone XL will provide much-needed dollars to Nebraska school districts, counties and municipalities.

 

The Keystone XL has been studied longer than any pipeline project in American history and analyzed extensively by the U.S. State Department, Nebraska environmental officials and others.  These experts have concluded that the Keystone XL is environmentally safe and the best option for transporting crude oil to U.S. refineries.

 

In February, the Nebraska Chamber called on the state’s Public Service Commission (PSC) to quickly approve TransCanada’s application to site and construct the pipeline. 

 

Studies have predicted that the Keystone XL project will generate an estimated $150 million in new property tax revenue for Nebraska’s local government entities over the lifetime of the pipeline; produce nearly $12 million in property tax revenue in the pipeline’s first year to 12 Nebraska counties; and expand Nebraskans’ personal incomes by more than $300 million during construction.

 

Overall, the project is expected to create more than 42,100 jobs across the U.S., according a State Department study released during the Obama presidency.  Independent studies show the project will provide more than $5.2 billion in tax revenue to the Keystone XL corridor states.

 

In early 2012, the Nebraska Chamber’s board of directors approved language supporting the Keystone XL, noting that the project would “benefit our state and nation by increasing domestic energy security, creating and supporting thousands of jobs, reducing America’s trade deficit, and making significant investments” in the state. 

 

The State Chamber has proudly served as the voice of Nebraska’s business community since 1912. 

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