FOR IMMEDIATE RELEASE
For More Information Please Contact:
Brian Gard, (w) 503-221-0100
Liz Fuller, (w) 503-552-5067
The Morrow Pacific project will create more than 3,100 local jobs
Project will generate $400 million in economic output
PORTLAND, Ore. — May 10, 2012 — The Morrow Pacific project will create over 3,100 direct, indirect and induced local jobs and generate $400 million in economic output, according to a new study conducted by Portland-based consulting firm ECONorthwest. The study demonstrates the significant financial impact that the project will have locally. Key findings are summarized in the attached Executive Summary.
“This project will invest millions in the local economy and create more than 3,100 jobs,” said Clark Moseley, President and CEO of the Morrow Pacific project. “We’re committed to doing business with local companies like Gunderson, Vigor and Tidewater Barge Lines, bringing these benefits to local communities.”
Local company Tidewater Barge Lines has been involved in the design of the barges and is expected to operate barges and tugs. According to the study, in the first two years alone, Tidewater would add approximately 45 jobs to operate and maintain the boats.
In late April, the Morrow Pacific project sent bid packages to local companies Gunderson and Vigor, requesting bids for the construction of 20 new barges. This work is valued at $70 million and is expected to create over 300 jobs. The economic impact analysis provides a detailed picture of the economic and fiscal contributions of the Morrow Pacific project and includes all direct, indirect and induced benefits. The barge bid is an example of an indirect benefit.
The project has option agreements with both the Port of Morrow and Port of St. Helens and has submitted permits to the Army Corps of Engineers and the Department of State Lands. In June, the Morrow Pacific project will submit an Enhanced Environmental Assessment evaluating the impact of the project.
The Morrow Pacific project is being developed to provide an enclosed export route for low-sulfur coal from the Powder River Basin to U.S. trade allies in the Asia-Pacific market. The Morrow Pacific project was designed after listening to the input and concerns of local communities and environmental groups.
About the Morrow Pacific project
The Morrow Pacific project will ship low-sulfur coal by rail from the Powder River Basin to an enclosed warehouse at the Port of Morrow. From there, enclosed barges will move the coal to Port Westward Industrial Park at the Port of St. Helens. An enclosed transloader will then transfer the coal from barges to oceangoing vessels bound for Asian trade allies, such as Japan, South Korea or Taiwan. The Morrow Pacific project raises the bar for environmental standards in coal export operations. From the Port of Morrow facility until it arrives in Asia, there will be no visible coal and little, if any, coal dust.
For more information please visit www.MorrowPacific.com.
Brian Gard, (w) 503-221-0100, email@example.com
Liz Fuller, (w) 503-552-5067, firstname.lastname@example.org