The Dow Chemical Company has selected Freeport, TX for the site of a new $4 billion ethylene production complex that could employ many as 2,000 Americans and bring millions of dollars in new revenues to the state.
In a news release, Dow Chairman and Chief Executive Officer Andrew N. Liveris said the new investment and growth opportunity is made possible by “affordable and relatively stable” U.S. natural gas prices, bringing the United States to the cusp of a full-on “manufacturing resurgence.”
Liveris went on:
Dow is proud to have been among the first manufacturing companies to declare a comprehensive plan to take advantage of these favorable market dynamics, further enhancing our footprint in the Americas and the profitability of our global businesses while supporting economic revitalization in the communities in which we operate.
Abundant, affordable supplies of natural gas from shale matters to America’s chemistry, which uses the liquid ethane found in shale gas as a key raw material for creating plastics and other innovative products. Natural gas is to the chemistry industry as flour is to a bakery, to put it another way.
Affordable natural gas supplies also matter to the many men and women that rely on chemistry and plastics to build our cars, construct our homes and businesses, and provide us with cutting-edge technologies and devices that improve our everyday lives.
Dow is among several chemistry companies to announce plans to expand production or explore new investments in major manufacturing facilities around the United States.
In a statement, ACC President and CEO Cal Dooley affirmed there is a growing body of evidence signaling a revitalization in America’s manufacturing sector, led by the domestic business of chemistry:
Thanks to abundant, affordable natural gas, the nation’s chemical companies have entered an era of renewed global competitiveness which can help generate new domestic investment, jobs and manufacturing exports.
To learn more about chemistry’s contributions to improving our nation’s energy security, please visit ChemistryToEnergy.com.