LETTER TO THE EDITOR
Submitted December 7, 2023
Dear Editor:
The Illinois Chamber of Commerce takes pride in supporting employers across Illinois by coordinating with local governments to bring more economic development and employment opportunities to our state, building a more resilient local economy.
To that extent, our Chamber hopes to see Wolf Carbon Solutions’ Carbon Capture and Storage (CCS) pipeline break ground to begin construction soon. The Mt. Simon Hub will have significant positive economic impacts that will benefit Illinois’ economy, workforce and longstanding industries – while attracting new ones.
The development of carbon capture infrastructure will position Illinois as a viable option for traditional industrial CO2 emitters looking to expand their operations. Conversely, we may see industries expand to neighboring states, or leave our state in the years to come, due to a lack of CCS infrastructure. In addition to attracting new industries and their investment dollars to Illinois, the Mt. Simon Hub will have an outsized impact on our long-standing agriculture industry as well.
The ethanol plants that purchase corn from Illinois farmers will be able to increase their production while meeting emission standards by capturing their CO2. This will increase the volume of corn that ethanol producers can purchase and process from farmers – putting more money in the hands of our local farming community.
These newfound revenues will ultimately find their way into our local economy, creating more local jobs and investments in local businesses. With an estimated $1.7 billion in total benefits from construction and a further $941 million in benefits from 2025-2036, the Mt. Simon Hub will be a landmark project and an economic boon to the Illinois economy.
With that in mind, we hope our community will support this project to give Illinois a competitive edge in the race to retain and attract new industries while also playing our part in reducing global carbon emissions.
Sincerely,
Clark Kaericher, Senior Vice President of Government Affairs and Executive Director of Technology and Healthcare, Illinois Chamber of Commerce, Springfield, IL
