Common Council has been told in an update on the Energy East pipeline, it has the potential to provide the city with significant economic and social benefits.
It’s estimated the city will derive 5 million dollars in tax revenue each year from the tank farm and marine terminal if the Energy East pipeline gets approved and built.
The project would cost over 800 million dollars and it’s estimated another 4.6 million dollars would be spent by 470 construction workers.
The City’s Municipal Plan calls for a risk assessment with something like 181 homes located within one and a half kilometers of the proposed Tank farm.
The National Energy Board will examine the economic feasibility and impact of the pipeline along with whether it’s needed. The City says it wants to ensure local industrial training and skill development programs are directly supported.
