Investing in New Jobs and Generating Local Tax Revenue
The new terminal will create more than 439 jobs and $38.3 million in local labor income annually during the two-year construction phase at a company with a strong safety record. At full capacity, the operation of this new terminal is expected to create 189 jobs and $17.8 million labor income each year in 2023 and 2024. Beginning annually in 2025, operations will expand to create 323 jobs and $32.4 million in labor income ongoing. By 2025, annual state and local tax revenues will grow to approximately $5 million, including $2 million in direct taxes and an additional $3 million in state and local tax payments supported through upstream business-to-business transactions and household consumption.
Read more about the proposed project’s economic impact here.
Building Lasting Roots in Stockton, San Joaquin County and across California’s Central Valley
Denmar U.S. will initially export 4.8 million tons per annum of American natural soda ash through the Port of Stockton, with plans to increase volumes over time to 7 million tons per annum, making a commitment to the local community through a significant capital investment.