EPA Regulations Will Severely Harm Missouri’s Economic Growth
New Report Details the Significant Economic Impact of Questionable EPA Regulations on Missouri
Jefferson City, Mo. – Associated Industries of Missouri (AIM) and the National Association of Manufacturers (NAM) released a new study today by ndp|consulting, A Critical Review of the Benefits and Costs of EPA Regulations on the U.S. Economy (http://www.nam.org/~/media/423A1826BF0747258F22BB9C68E31F8F.ashx), that examines the harmful impact of several burdensome Environmental Protection Agency (EPA) regulations on Missouri’s economy.
The study finds that the annual compliance costs of the EPA’s proposed Utility MACT, Boiler MACT and Coal Combustion Residuals regulations on Missouri will be $539 million.
“The regulations coming out of Washington continue to dampen growth and job creation in Missouri,” said Ray McCarty, president of Associated Industries of Missouri. “Just the implementation of the EPA’s regulations will cost our state billions of dollars and shed jobs at a time when we are faced with a 6.9 percent unemployment rate. Missouri’s businesses are struggling to gain momentum, and these regulations are only holding us back and costing jobs.”
The EPA’s Utility MACT, Boiler MACT and Coal Combustion Residuals regulations will have a significant impact on Missouri:
Annual compliance costs: $533.9 million
Annual manufacturing sector compliance costs: $172.9 million
Total upfront capital expenditures to comply: $3.5 billion
Total manufacturing sector upfront capital expenditures: $1.1 billion
“This study clearly illustrates the layer upon layer of regulations that are weighing down manufacturers’ ability to help lead our country’s economic recovery,” said NAM President and CEO Jay Timmons. “If we don’t return to a more sensible regulatory process, then manufacturers in Missouri will face even higher energy prices, skyrocketing compliance costs, less investment opportunities and significantly fewer jobs. A devastating ripple effect will be felt throughout our entire economy, causing some manufacturers to close their doors for good.”