ACC: Odebrecht Announcement of Chemical Plant Contributes to Wave of New Investment in American Manufacturing

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Nov 15, 2013, 11:25 ET

Major New Chemical Project Could Generate Thousands of Jobs in West Virginia

WASHINGTON, Nov. 15, 2013 /PRNewswire-USNewswire/ -- The American Chemistry Council (ACC) issued the following statement in response to yesterday's announcement by Odebrecht, parent company of ACC member Braskem America, concerning its intention to build a multi-billion dollar ethylene cracker in the Mid-Ohio Valley of West Virginia.

"Odebrecht's announcement is further evidence that abundant and affordable supplies of natural gas have made the United States the most attractive place in the world to invest in chemical manufacturing," said Cal Dooley, ACC President and CEO. "Senator Manchin, Governor Tomblin, Congressman McKinley and the West Virginia delegation should be congratulated – they have been champions of the kind of smart energy policy that helped make this possible for the Mountain State. Odebrecht's significant investment will be a game-changer for economic growth in West Virginia, not only for chemical companies, but for the region's manufacturing sector as a whole."

Odebrecht is one of a growing list of companies that have announced plans to expand U.S. chemistry production or explore new investments in major manufacturing facilities. As of November, 135 chemical projects worth nearly $90 billion in proposed capital investment have been announced, with 54 percent coming from companies based overseas.

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The American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry. ACC members apply the science of chemistry to make innovative products and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health and safety performance through Responsible Care®, common sense advocacy designed to address major public policy issues, and health and environmental research and product testing. The business of chemistry is a $770 billion enterprise and a key element of the nation's economy. It is one of the nation's largest exporters, accounting for twelve percent of all U.S. exports. Chemistry companies are among the largest investors in research and development. Safety and security have always been primary concerns of ACC members, and they have intensified their efforts, working closely with government agencies to improve security and to defend against any threat to the nation's critical infrastructure.

SOURCE American Chemistry Council