|As EID reported earlier this week, Ohio will soon be home to a new ethane cracker. Today, Governor John Kasich made the formal announcement that after two years of deliberation over three different site locations, PTT Global Chemical (PTTGF) and Marubeni Corporation have selected Belmont County for the possible construction of the facility. The first phase of the project will consist of engineering design and permitting at the Ohio site over the next 12-16 months and a final investment decision is slated to occur in 2016. This project could bring $5 billion to the Appalachian region, creating 10,000 construction jobs and 1,000 permanent jobs. Governor Kasich provided the following statement regarding this major announcement for the Buckeye State:|
Larry Merry, Executive Director of the Belmont County Port Authority, also stated “This is the type of project that allows moms and dad’s to buy baseball gloves and dance lessons.” President of the Belmont County Board of Commissioners, Mark Thomas, also emphasized the magnitude of this announcement stating “This investment is one of the largest in the history of the State of Ohio.”
Ohio’s Representative for the region, Congressman Bill Johnson, added:
This news adds to the momentum already building in the state, with Utica well production numbers soaring and pipeline development in Monroe and Belmont Counties slated to start construction in 2016. As EID predicted late last year, Monroe, Belmont, and Noble counties will be the game changers for 2015 and beyond in the Utica Shale play. Today’s announcement is just one more piece of good news for economic development in the Buckeye State.