Executive Briefings

Plastics-to-Oil Recycling Could Lead to 40,000 Jobs in U.S, report Finds

Wide-scale deployment of emerging technology that converts used, non-recycled plastics into oil could generate up to $9bn in annual U.S. economic output and create upwards of 40,000 domestic jobs, according to a report released by the American Chemistry Council.

Plastics-to-Oil Recycling Could Lead to 40,000 Jobs in U.S, report Finds

The report, “Economic Impact of Plastics-to-Oil Facilities in the U.S.,” assessed the economic potential of a rapidly developing technology called pyrolysis— more commonly known as plastics-to-oil. ACC’s analysis found that the U.S. could support as many as 600 of these facilities nationwide, which could yield $2.1bn in annual payroll and create up to $6.6bn in capital investment.

“Plastics-to-oil technologies have the potential to create thousands of jobs for skilled workers, contribute billions of dollars to the U.S. economy, cut our carbon emissions, and dramatically reduce the landfilling of a valuable energy source,” says Jon Angin, vice president of business development at Agilyx Corp. and chairman of ACC’s Plastics-to-Oil Technologies Alliance.

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The report, “Economic Impact of Plastics-to-Oil Facilities in the U.S.,” assessed the economic potential of a rapidly developing technology called pyrolysis— more commonly known as plastics-to-oil. ACC’s analysis found that the U.S. could support as many as 600 of these facilities nationwide, which could yield $2.1bn in annual payroll and create up to $6.6bn in capital investment.

“Plastics-to-oil technologies have the potential to create thousands of jobs for skilled workers, contribute billions of dollars to the U.S. economy, cut our carbon emissions, and dramatically reduce the landfilling of a valuable energy source,” says Jon Angin, vice president of business development at Agilyx Corp. and chairman of ACC’s Plastics-to-Oil Technologies Alliance.

Read Full Article

Plastics-to-Oil Recycling Could Lead to 40,000 Jobs in U.S, report Finds