The proposed MVP Southgate project is designed to carry short-term economic benefits associated with construction activity, and long-term economic benefits associated with the increased supply of an affordable, cleaner-burning fuel that is preferred by many employers.
- Direct Spending: With an estimated capital expense of $468 million, the MVP Southgate project team anticipates spending $68 million directly in Virginia, and $113 million directly in North Carolina
- Labor & Employment: During peak employment, the MVP Southgate project team is expected to support 570 jobs in Virginia and 1,130 jobs in North Carolina, including direct, indirect and induced jobs
- Tax Revenues: A significant source of state and local tax revenues will be generated during the construction phase, with approximately $4.1 million generated in Virginia, and $6.3 million generated in North Carolina
- Ad Valorem Taxes: Once the MVP Southgate project is operational, localities along the route will continue to receive tax revenues – generating an estimated $1.2 million in Virginia, and $3.4 million in North Carolina
For more details, see FTI Consulting’s report and analysis of the economic impact of the MVP Southgate project.