Despite opposition, CO2 pipelines are pushing forward in Illinois. Here’s what’s next – Peoria Journal Star
Legislation introduced during the now-concluded Illinois General Assembly spring session could address some of those concerns. The Carbon Dioxide Transport and Storage Protections Act, listed under Senate Bill 2421 and House Bill 3119, did not advance out of their respective chambers but could be moved during veto session in late October. Bill sponsor Rep. Ann Williams said work is ongoing to strike the right balance between a burgeoning industry and needed environmental safeguards.
As the city faces challenges such as crime, the uncertainty of a new mayor, rising interest rates and a national slowdown in deals amid worries of a recession, 82.8% of Chicago commercial real estate professionals had a negative feeling about the next six months, up from about 65%
“For a long time, maybe people didn’t realize the importance of the port, the impact that we have because we bring all of the commodities — steel, iron, concrete, sand — all those things we need to build the infrastructure that we talk about,” said Erik Varela, executive director of the Illinois International Port
A spokesman said the company projects $94 million in local tax revenue and landowner income over the life of the project, which is expected to be 20-25 years. A majority of the power Alta generates (125 megawatts) will go to the DeKalb Data Center. The rest was sold to the Indiana Municipal Power Agency.
Convention business in Springfield, and hotel occupancy rates, have returned to levels seen before the COVID-19 pandemic, Springfield Convention and Visitors Bureau director Scott Dahl said. And even amid talk of a recession later this year, he said, “I can’t imagine that the convention market is going to dry up.”