Here in Iowa, we take pride in public discourse about critical policies that affect our families and communities. Outside of the Iowa caucuses, the Dakota Access Pipeline is an issue that has received significant media coverage over the past year. With a project of this size and magnitude, the benefits to our communities and businesses are clear.
This project constitutes a $1 billion private investment into the towns and counties along the 340-mile path. Not only will there be significant income generated for local businesses due to the estimated 2,000-4,000 construction jobs, but revenue will be generated from various sales and property taxes that will support local community programs and schools. The bottom line is that this project not only represents a significant investment in our state, but also will help our local communities and Iowans in general.
Our organization is comprised of 1,500 member companies with 310,000 employees all across Iowa. Our members always look for opportunities to grow their companies and the economy, locally and statewide. The Dakota Access Pipeline will provide a boost to our state’s economic growth in a variety of ways. These benefits go well beyond the direct private investment. During construction, thousands of workers will live in local hotels, eat at locally-owned restaurants and buy gas at area gas stations. The construction work alone is expected to generate $35.3 million in sales taxes and $14.6 million in income taxes. All of this new revenue will be invested back into our state and local communities.
Opponents of this project say it is not beneficial to Iowans. I disagree. The employment opportunities, an influx of new revenue to businesses along the pipeline’s route and future benefits for our state and local communities are all examples of why this project makes sense for Iowa. After construction, the pipeline will deliver more than $27 million in revenue to our local communities. This means even more potential funding for schools and community services and programs.
This project also represents an investment in domestically produced energy, which is beneficial to all Iowans. The United States is now the largest oil and natural gas producer in the world. This not only helps the many businesses engage in these efforts, it also helps us here in Iowa as a large consumer of petroleum products for our agriculture and manufacturing industries.
The Dakota Access Pipeline represents far more than just carrying oil through our state. This project will generate new revenue for local communities and services, support thousands of construction jobs, and represent a long-term investment in Iowa’s future.