Peterson Urges Congress to Boost Economic Development in Appalachian Regions of Ohio
COLUMBUS—State Senator Bob Peterson (R-Washington Court House) recently joined his Senate colleagues in urging Congress to enact policies that will boost economic development in Appalachian regions of Ohio by better harnessing our world class supply of natural gas.
“The creation of an Appalachian storage hub is critical to the region's ability to maximize the economic benefits of our natural resources,” said Peterson. “It is my hope that Congress hears our call for action and enacts federal policies that help Ohio reach our full potential.”
Ohio’s chemical industry is the second largest manufacturing industry and sixth largest chemical manufacturing state in the U.S., employing over 44,000 people with an average wage of over $80,000 and providing $1.3 billion in federal, state and local taxes.
In this region there are currently enough natural gas liquids to attract an investment of $35 billion. An investment of that size wold create 100,000 new jobs, along with $28 billion in new economic output and nearly $3 billion a year in tax revenue.Senate Concurrent Resolution 21
received unanimous support from the Senate Public Utilities Committee and will now move to the House of Representatives for further consideration.