SHIREMANSTOWN, Pa., June 14 /PRNewswire/ -- Citizens for Pennsylvania's Future (PennFuture) today released a new report on the impact of Pennsylvania Governor Ed Rendell's PennSecurity Fuels Initiative on the Commonwealth's economy, showing that the plan will create 25,775 new jobs in all sectors of the Pennsylvania economy by 2017, add $1.5 billion annually to the Pennsylvania economy and create $900 million in new tax revenue for the Commonwealth over the next decade. In addition, the proposal will mean that the 900 million gallons of Pennsylvania biofuels made over a decade will replace imports, much from abroad, worth $6.8 billion. Thomas Tuffey, PhD, director of PennFuture's Center for Energy, Enterprise and the Environment, made the announcement at an event at Keystone Biofuels in Shiremanstown attended by Pennsylvania Agriculture Secretary Dennis Wolff and business leaders and farmers involved in the biofuels market. "Governor Rendell's initiative will provide significant contributions to Pennsylvania's economy through the construction of new refining plants, infrastructure and annual operations," said Tuffey. "More than 25,000 jobs across the state, as well as the development of new cash crops for farmers, will mean Pennsylvanians in rural communities will reap the benefits of this new high-tech biofuels economy. And this initiative will also make our nation and our state more secure by replacing 900 million gallons of oil products imported from the Middle East and other hotspots. "This report proves that the PennSecurity Fuels Initiative will be a total victory -- good for the environment, by combating global warming and air pollution through using substitutes for oil; good for the economy, by creating a whole new sector of the economy, complete with new jobs and new markets; and good for our security," said Tuffey. "Quite simply, this report shows that the PennSecurity Fuels Initiative is good public policy." The report by LECG LLC was designed to investigate the possible risks and benefits of investing in the new infrastructure necessary to move Pennsylvania strongly into the biofuels markets. The 22-page report is available on PennFuture's website at http://www.pennfuture.org/docs/EconomicImpactofPSFI.pdf. PennFuture is a statewide public interest membership organization with offices in Harrisburg, Pittsburgh and Philadelphia, and the newly opened Center for Energy, Enterprise and the Environment in West Chester. PennFuture has been called "Pennsylvania's leading environmental organization" by the Philadelphia Inquirer.
SOURCE Citizens for Pennsylvania's Future (PennFuture)