The abundance of natural gas from shale formations has driven chemical manufacturers to plan $100 billion in investments, the American Chemistry Council (ACC) announced today. ACC said in a statement the 148 projects that have been announced could lead to $81 billion in new chemical industry output annually and more than 600,000 new jobs by 2023.
“Thanks to the shale gas production boom, the United States is the most attractive place in the world to invest in chemical and plastics manufacturing,” ACC President and CEO Cal Dooley said in a statement. “It’s an astonishing gain in competitiveness.”
ACC’s announcement is an update of a report from last spring that showed 100 projects totaling $71.7 billion had been planned as of March 2013.
