Report Released on Economic Impact of Atlantic Coast PipelinePosted: Updated: Mar 01, 2016 06:37 PM
A new report details the potential economic impact Dominion's proposed Atlantic Coast Pipeline could have on the counties it passes through. Opponents of the natural gas project say the costs to property owners and communities far outweigh its benefits.
Pipeline opposition groups raised donations to hire Charlottesville-based Key-Log Economics to do this study. They released the 62 page report Tuesday.
The report covers Augusta, Nelson, Highland, and Buckingham Counties. It estimates $277 million in property value is at risk for landowners in the proposed path of the pipeline.
The report says the annual cost to those counties would range from $96 million to $109 million.
In Nelson County alone, the report identifies $75 million worth of scrapped investments if the pipeline is built, including a new resort. The report also says 200 to 300 employees would not be hired in Nelson County.
“Augusta County and Nelson County are the two counties impacted the most by this. Nelson County with tourism and the property values and the really excellent economy that's been going on there for the last five years, we're looking at the likelihood that could all turn around and go south. That's terrible,” said Ernie Reed of Friends of Nelson.
A spokesman for the Atlantic Coast Pipeline released a statement in response to the study.
It says in part, “This report lacks factual basis and credibility. All you have to do it look at the experience of neighboring counties here in Virginia to see that. Albemarle, Augusta and many other counties with pipelines thrive. There is no substantiated reason to think Nelson County will be any different.”
“It also ignores decades of credible research and the real-world experience of communities, not only in Virginia, but elsewhere around the country.”
Dominion points to California's Napa Valley, which it says has hundreds of miles of natural gas pipelines running beneath its successful wine country.
Pipeline opponents plan to submit this report to federal regulators who are reviewing the need for the pipeline.
Report Released on Economic Impact of Atlantic Coast PipelineMore>>