Bryce Custer to Speak at 3rd Annual Appalachian Storage Hub Conference
His presentation will identify Opportunity Zones in the Appalachian Basin
The Appalachian Basin is considered to be the most economical area in the world to produce petrochemicals. Subsequently, global chemical companies are building cracker plants in the region to take advantage of the cheap ethane gas that’s available.
Shell is building a $6 billion cracker plant in Beaver County, Pennsylvania. PTTGC, — a joint venture of three Asian chemical companies including PTT Global Chemical (Thailand), Murabeni (Japan) and Daelim (South Korea), — is building a $7 billion cracker plant in Belmont County, Ohio. More cracker plants are rumored in the Ohio River Valley.
As the result of the construction of these multi-billion dollar cracker plants, a tremendous infrastructure effort will be needed to meet the needs of thousands of workers and the vendors for these cracker plants.
The Ohio River Valley has for many years been referred to as “America’s Rust Belt.” The development of these cracker plants is transforming the area into a new “Plastics Belt.” When the 2017 Tax Reform Act was written and signed by President Trump, many of the old facilities in the area were identified as Opportunity Zones. The Act allows for the establishment of Qualified Opportunity Funds, investment vehicles set up as partnerships or corporations. Investors can defer taxes on prior gains until December 31, 2026 as long as any gains are re-invested in the fund.
Bryce Custer, Petrochemical and Energy Services Specialist with NAI Ohio River Corridor, will present a comprehensive analysis of the Opportunity Zones in the Ohio River Valley along the Ohio River from Columbiana County, OH / Hancock County, WV to Lawrence County, OH / Cabell County, WV.
For those interested in attending the Appalachian Storage Hub Conference on June 6, 2019 at the Hilton Garden Inn in Southpointe, Canonsburg, Pennsylvania, click on the link to learn more.