TRAINER, Pa., May 1, 2012 /PRNewswire-USNewswire/ -- Governor Tom Corbett today announced that commonwealth support will enable Delta Air Lines' wholly-owned subsidiary, Monroe Energy LLC, to acquire the ConocoPhillips refinery in Trainer, preserving hundreds of direct jobs and thousands of jobs in related industries.
"For several months, I have been actively engaged and working with ConocoPhillips and Delta officials, as have members of my cabinet, to maintain this facility as an active refinery and preserve jobs," Corbett said. "Our support of Monroe's acquisition will not only save more than 400 positions at the refinery complex, but will secure the jobs of more than 5,000 southeast Pennsylvanians who work in industries that rely on this refinery's active operation."
Monroe will receive a $30 million Opportunity Grant from the Department of Community and Economic Development for job creation and site improvements. Financial support is contingent upon the company investing at least $350 million at the project site, including acquisition costs, and employing at least 402 full-time workers on-site for at least five years from the date of occupancy.
In addition to direct jobs, an economic impact study conducted by the Department of Labor and Industry reported that every 100 direct jobs at the refinery support 1800 indirect jobs.
"Since day one, creating jobs has been a top priority of my administration. But it is equally important to continue supporting industries that already exist in the state," Corbett said. "Today marks an important win for the local community and the people of Pennsylvania."
Monroe expects to close on the acquisition in the first half of 2012. Jet fuel production is expected to begin during the third quarter, with infrastructure improvements being completed by the end of the third quarter. The company will invest $180 million to acquire the refinery and $100 million to convert the existing infrastructure to maximize jet fuel production. The planned upgrades will increase production from 185,000 barrels per day to 200,000.
The Trainer refinery complex sits on a 347-acre site within the boroughs of Trainer and Marcus Hook and the City of Chester. The facility has a crude oil capacity of 185,000 barrels per day, on-site storage capacity, and pipeline and barge access to the New York Harbor.
Gov. Corbett also thanked members of the Pennsylvania Congressional Delegation and the General Assembly for their support in moving this project forward. He especially thanked the Delaware County delegation and Delaware County Council for their partnership in this endeavor.
Media contact: Kelli Roberts, 717-783-1116
SOURCE Pennsylvania Office of the Governor