Study estimates 1,600-plus state-wide jobs at peak construction
JACKSONVILLE – In addition to global prestige and attention, FutureGen 2.0 will bring $12 billion in overall economic benefits to the State of Illinois, including hundreds of well-paying jobs to Jacksonville, Morgan County and the nearby region over the next 20-plus years, according to an independent study by the University of Illinois (U of I).
The world-leading clean-coal project will create an average of 620 well-paying jobs for the next 20 years. Of those jobs, an average of 400 will be in Jacksonville, Morgan County and the surrounding counties. The Jacksonville Region is also where the majority of the long-range economic impact will occur – nearly $8.8 billion. The report also estimates total wages and salaries of $655 million, of which $436 million will be paid, within this same region, through 2037.
In addition, a brisk construction period will see the project generate as many as 1,610 total jobs (direct and indirect) for the state of Illinois as work reaches its peak on the power plant retrofit, the carbon dioxide (CO2) pipeline that will stretch from Meredosia to the northeast corner of Morgan County, the CO2 injection well system and the construction of the new visitor-research-training facility.
The statewide and regional figures come from a new analysis — “Economic Impacts of FutureGen 2.0 on Illinois and Local Economies” — done by the respected U of I Regional Economic Applications Laboratory (REAL) at the Institute of Government and Public Affairs.
“The number of good paying jobs and the huge, positive financial impact that FutureGen 2.0 will have on our Region is tremendous!” said Terry Denison, President of the Jacksonville Regional Economic Development Corporation. “We are so glad and proud that the FutureGen Alliance chose our Region…click here to read the full press release from JREDC.