Investments in Infrastructure and Other Vital Community Projects Total Over $2.5 million
PITTSBURGH, PA - October 7, 2015 - CONSOL Energy Inc. (NYSE: CNX) today outlined the status of a multiyear, multimillion-dollar Morris Township community investment program during a briefing held at Morris Township Community Center. CONSOL personnel and local officials discussed the company's current and future commitments to Morris Township, including construction of a new sewage treatment facility and collection line, efforts to construct a new, state-of-the-art fire station, improvements to the community center and the conveyance of 96 acres of land ripe for new residential development.
CONSOL Energy Senior Vice President of Pennsylvania Coal Operations Chuck Shaynak commented, 'Over the last several years, we've fully capitalized our Pennsylvania coal complex. It's ready to run and well-positioned to continue to be an economic engine for the area for the long term.' Shaynak continued, 'In a similar way, these investments in Morris Township demonstrate our commitment to ensuring that the local community shares in the benefits of the energy we produce right here in Greene County, and that the township is also well-positioned for growth and progress for the long term.'
CONSOL Energy's Pennsylvania coal complex employs over 2,200 individuals. Direct expenditures into the local economy for items such as wages, benefits and goods and services purchased totaled approximately $1.2 billion in 2014. Between corporate taxes paid as a result of activity at the Pennsylvania complex and taxes paid by CONSOL employees, an additional $36.5 million was received by the Commonwealth of Pennsylvania and local governments in 2014. In sum, the Pennsylvania complex provides an annual economic impact to the region of over $3 billion.
'This is a great example of industry and the local community working hand-in-hand to promote growth and development for our residents,' said Glenn Adamson, Chairman, Morris Township Board of Supervisors. 'Energy fuels our local economy, and CONSOL Energy has and continues to be an excellent partner in our progress here in Morris Township.'
Adamson, former Chairman Robert Keller and Vice Chairman Roger Creech were mutually instrumental in developing the partnership between CONSOL Energy and Morris Township.
Pennsylvania Senator Camera Bartolotta (SD-46) commented, 'I applaud the spirit of cooperation demonstrated here today. I'm convinced that Greene County's best days are ahead of her. At the state level, we need to continue to work toward a public policy framework that unleashes this sort of progress as the energy industry and our local communities work together to better the lives of our citizens.'
As part of this important relationship, CONSOL Energy has committed to the following investments in Morris Township:
Constructed a sewage treatment plant to serve the new Harvey mine at CONSOL's Pennsylvania complex and support the existing 42 households in the village of Nineveh, along with the anticipated new housing development. CONSOL Energy provided $743,000 for construction and will provide all operating and maintenance costs for 35 years at a cost of approximately $30,000/year.
Built a main sewage collection line to serve existing and anticipated households in Nineveh. As the first municipal sewage collection system to serve Nineveh, the $650,000 line will replace homeowners' existing on-lot systems and ensure compliancy with current Pennsylvania Department of Environmental Protection regulations.
Purchased the existing Morris Township Fire Department, along with underlying coal rights, and conveyedthree adjacent land parcels for a new, state-of-the-art fire station. CONSOL Energy also committed to joining a future community fundraising effort aimed at the construction of a new fire station.
Invested in the expansion of and improvements to the Morris Township Community Center, including a $50,000 donation for the development of walking trails and recreational facilities. The donation also helps establish the community center as a certified Red Cross facility to the benefit of the local community should the need arise.
Conveyed 96 acres of land for home development in the village of Nineveh.
CONSOL Energy Inc. (NYSE: CNX) is a Pittsburgh-based producer of natural gas and coal. The company is one of the largest independent natural gas exploration, development and production companies, with operations centered in the major shale formations of the Appalachian basin. CONSOL Energy deploys an organic growth strategy focused on rapidly developing its resource base. As of December 31, 2014, CONSOL Energy had 6.8 trillion cubic feet equivalent of proved natural gas reserves. The company's premium coals are sold to electricity generators and steel makers, both domestically and internationally. CONSOL Energy is a member of the Standard & Poor's 500 Equity Index. Additional information may be found at www.consolenergy.com.
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