Economic Impact Study Shows Impressive Benefits
By the mid-2050s, Enefit expects to be able to look back and show that more than 30,000 new jobs were added to the state’s workforce from direct, indirect and induced spending to build and operate our Utah Project. About half of those jobs will be located in the Uintah Basin and surrounding communities. We expect our direct workforce to number between 1,500 to 2,000 employees during this period; additional employment comes from contractors supplying the project and from “induced” jobs created to serve a larger community. Over the course of 30 years, that will result in about $4 billion in wages and labor income and more than $8 billion in total contributions to Utah’s gross domestic product (GDP).
These numbers come from a study being prepared to help Enefit understand the short- and long-term socioeconomic effects that our oil shale project will have on the Uintah Basin and the greater region. We’re assessing both the benefits to the community through jobs, income and tax revenue, and the supplements to public and private services that will be required due to project-related community growth. While these numbers are preliminary and will be refined as we gain more information over time, it’s clear that Enefit’s Utah Project will have an impressive economic benefit on the Uintah Basin and beyond.