- Category: US
06 Aug 2012
- Published on Monday, 06 August 2012 10:18
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A $3 billion gasification project in Chicago’s Southeast side will result in more than $10 billion in economic output for the state of Illinois and 2,000 in new jobs.
The Chicago Clean Energy project is a gasification facility that will produce substitute natural gas from coal and petroleum coke that can be used in stoves, dryers and furnaces for heat and power. It will allow Illinois to produce almost 5 percent of its natural gas supply locally.
Gasification produces fuel that it 99 percent cleaner than that used in conventional power plants as the process removes impurities and pollutants. The facility is also set up to capture 85 percent of the carbon dioxide produced in the gasification process.
Aside from the $10 billion in economic output for the state, the project is expected to add around $1.25 billion in state and local tax revenue.
Jobs created by the project can be broken down to 1,100 construction jobs over three years, 200 permanent jobs on-site and 150 related jobs down state.
The plant will exceed all federal emission standards and be among the cleanest facilities in the world. By creating the synthetic natural gas locally, the project is estimated to give Chicago and Illinois consumers more than $1 billion in energy savings over the next 30 years.
The project was endorsed by the Illinois general Assembly and passed the House and Senate in May 2011. As of July 13, 2011, Governor Pat Quinn signed into law a measure allowing the project to move forward.