RGLNG represents a substantial private, long-term investment in the region with the full project expected to generate up to $20 billion in direct investment. Construction is expected to create between 4,000 and 6,000 jobs with long-term, well-paid permanent jobs in excess of 200. The indirect impact through increased traffic to the area, tourism, housing, food and entertainment is likely to multiply this impact by a substantial factor.
An independent study conducted by The Perryman Group found that should the project move forward it would have a significant positive impact for the region. The study, commissioned by NextDecade, estimated that over the course of construction and operations, the Rio Grande LNG project would inject billions of dollars into the local economy, supporting more than an estimated 3,000 permanent jobs in Cameron County and contributing millions in new tax dollars. At the national level, the estimated impact would be even greater, adding more than $500 million to the US economy each year and creating nearly 5,000 permanent indirect jobs.
Construction and Non-Operational activities of Rio Grande LNG and Rio Bravo Pipeline is estimated to:
- Inject nearly $6 billion dollars into the local economy, representing a one-time addition equivalent to more than 67% of Cameron County’s current Gross Product
- Generate 74,374 person-years of employment in Cameron County
- Add an estimated $136.9 million in new tax receipts for Cameron County
Ongoing Operations at Maturity is estimated to:
- Add approximately $326 million a year to Cameron County’s Gross Product, or more than 3.7% its current level
- Add a projected $526 million a year to US Gross Domestic Product (GDP)
- Create and sustain an estimated 3,256 permanent jobs in Cameron County and an estimated combined 4,901 permanent jobs in the US overall
In addition to the substantial local benefits afforded by the project, The Perryman Group estimated that the improvement to the international balance of payments of the United States from the Rio Grande LNG project could potentially range from $11.5-$18.5 billion per year.
In addition to the massive economic impact, RGLNG is working with local educational entities to help provide the information and support needed to set up programs to train the local workforce so that by the time we begin construction and operations, RGLNG will be able to hire locally. If you are interested in future employment opportunities with Rio Grande LNG, check out the Jobs page for more information.
click to view video