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Friday, October 07, 2011

SBE Council Urges Approval of Keystone XL Pipeline to Strengthen Economy and Create Jobs for Small Businesses

Small Business & Entrepreneurship Council (SBE Council) President & CEO Karen Kerrigan issued the following statement today in light of the U.S. State Department's final public meeting concerning the proposed Keystone XL Pipeline:

"As citizens gather in Washington today to voice their opinions on TransCanada's proposed pipeline expansion project, it's important to remember what's at stake. Our economic recovery remains sluggish, businesses are struggling under onerous government regulations, and unemployment nationwide continues to linger at 9.1 percent. If approved, this pipeline will be a real engine of economic growth and a true shovel ready project, one that will immediately create 20,000 jobs. In fact, the construction of the pipeline alone is expected to create 118,000 jobs.

"The Keystone XL Pipeline will also generate significant tax receipts for depleted state and local treasuries, to the tune of $486 million. That's something few people can argue against. And for states along the pipeline's proposed route, a sizeable increase in gross output will occur. For example, Nebraska can expect to see statewide output rise by more than $390 million during construction and development of Keystone XL.

"Small businesses employ more than half of all private sector employees in America. From construction and maintenance to transportation and support services, America's small businesses are ready to get to work on Keystone XL. Our economy surely needs this work to start soon, too. So after the State Department and 10 other federal agencies have deliberated this project for almost three years, SBE Council hopes that after this last public meeting today the Obama administration quickly grants final approval of Keystone XL. If it's serious about strengthening our economy and creating jobs, then it will be a very easy decision to make."

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