WASHINGTON, June 29, 2015 /PRNewswire-USNewswire/ -- Today in Chicago, the National Black Chamber of Commerce (NBCC) joined the Illinois Black Chamber of Commerce and the U.S. Chamber of Commerce for an important public discussion on the economic consequences of the Environmental Protection Agency's (EPA) proposed ground level ozone rule on the state's economy and jobs.
"Our nation is starting to regain its economic footing and the EPA's proposed rule will knock us back on our heels. States, cities and counties will be especially hard hit as they will shoulder the brunt of the economic burden resulting from this rule," NBCC president and CEO Harry Alford said. "Today's forum was an opportunity for local leaders to sit down and discuss how their communities and businesses will be affected. And the resounding conclusion was - significantly."
"This ozone regulation would be the costliest in history, stalling development in communities across the nation. And arguably, those most at risk of losing out on future economic growth and job opportunities are urban areas like Chicago that will be disproportionately impacted." Alford continued.
The EPA's proposal would reduce Illinois' Gross State Product by over $50 billion from 2017 to 2040 and jeopardize 35,000 jobs annually.
Alford concluded, "The administration should be working with businesses to encourage them to expand and grow, providing good-paying jobs to Americans. Instead, they continue to pile on another expensive regulation at a time when businesses, manufacturers and families are making a comeback."
SOURCE National Black Chamber of Commerce