Exxon Plans Mean Jobs
As i made my way around town yesterday, the main topic of conversation was the fact that Exxon Mobil had announced that it would be spending over $20 billion on projects and plants along the Gulf Coast. Now there's a bit of business news that will get your blood flowing.
The plans were announced Monday morning by Exxon CEO Darren Woods. Woods explained that the $20 billion would be spent in a variety of ways including expanding current plants as well as building new ones. Most of the plants will, of course, be used to create products for export. That kind of money and expansion spells jobs and Woods added a break down on what can be expected in the job market.
According to Woods, the projects would create about 12,000 permanent jobs. That is indeed great news for a lot of petrochemical workers all up and down the Gulf Coast. No doubt some of that expansion could take place right here in the Lake area.
This doesn't seem to be the end of Exxon's investment in their own future. The company announced that it plans to boost their investments to about #25 billion a year between next year and 2020.