Methanol Industry to Contribute 5,000 High-Paying Jobs and $12 billion in Capital Spending to U.S. Economy
ALEXANDRIA, VA, UNITED STATES, September 5, 2017 /EINPresswire.com/ -- The U.S. methanol industry will create over 5,000 new permanent high-paying jobs, and 19,000 temporary construction jobs by 2020 according to an analysis prepared by ADI Analytics and commissioned by the Methanol Institute (MI), the trade association for the global methanol industry.
The ongoing growth of the methanol industry continues to demonstrate its position as one of the world’s most vibrant and innovative industries. Shale gas supplies have led to several new methanol plant announcements, enabling the U.S. to shift from a net importer of methanol to a net exporter in the near future.
As the ADI analysis details, a typical 1.5 million metric tons per annum methanol plant in the U.S. drives capital spending of $1.1 billion, and an economic ripple effect worth $1.5 billion.
As MI’s CEO Gregory Dolan notes “This is an exciting time for the U.S. domestic methanol industry. As the U.S. transitions to becoming a net methanol exporter, more Americans will be hired in high-paying jobs in the industry, and the economic benefits of this growth will be felt in many communities across the nation.”
Uday Turaga, Founder & CEO of ADI Analytics states “North America is oversupplied in natural gas thanks to shale, and methanol is a great way to monetize that resource. Methanol also has a wide range of applications, from a chemical feedstock to a transportation fuel, and can enable the U.S. to leverage its shale gas resource to expand trade, jobs, tax revenue, and other economic and employment benefits.”
For more information on the methanol industry, please visit MI’s website at www.methanol.org, to view the ADI Analytics Report, please click HERE.
The ongoing growth of the methanol industry continues to demonstrate its position as one of the world’s most vibrant and innovative industries. Shale gas supplies have led to several new methanol plant announcements, enabling the U.S. to shift from a net importer of methanol to a net exporter in the near future.
As the ADI analysis details, a typical 1.5 million metric tons per annum methanol plant in the U.S. drives capital spending of $1.1 billion, and an economic ripple effect worth $1.5 billion.
As MI’s CEO Gregory Dolan notes “This is an exciting time for the U.S. domestic methanol industry. As the U.S. transitions to becoming a net methanol exporter, more Americans will be hired in high-paying jobs in the industry, and the economic benefits of this growth will be felt in many communities across the nation.”
Uday Turaga, Founder & CEO of ADI Analytics states “North America is oversupplied in natural gas thanks to shale, and methanol is a great way to monetize that resource. Methanol also has a wide range of applications, from a chemical feedstock to a transportation fuel, and can enable the U.S. to leverage its shale gas resource to expand trade, jobs, tax revenue, and other economic and employment benefits.”
For more information on the methanol industry, please visit MI’s website at www.methanol.org, to view the ADI Analytics Report, please click HERE.
Larry Navin
Methanol Institute
703-248-3636
email us here
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