BP Commitment To Alabama Tops $657 Million
By: Stephen Crews
Updated: November 11, 2010
As part of its ongoing commitment to the impacted communities affected by the spill, BP has released updated figures on its payments and investments in Alabama. (Information Source: Gulf Coast Restoration Organization)
To date, BP has invested more than $657 million in the state to pay for grants, claims and recovery costs from the oil spill.
BP’s response to this incident remains unprecedented.
This summer, BP had more than 48,000 people working across the Gulf in response to the Deepwater Horizon incident.
The company will maintain a presence in Alabama and throughout the Gulf to assist in the recovery and restoration process.
Of the $657 million BP has paid so far in the state of Alabama, nearly $420 million has gone directly to business and individuals through the claims process.
Nearly $127 million has gone to those who worked in the Vessels of Opportunity Program.
That program put fisherman and captains to work over the summer helping with oil recovery.
Another large portion of BP’s payments and investments, $22 million, has gone to help Alabama’s tourism industry.
Recent BP-sponsored events supporting tourism (i.e. BayFest, Shrimp Festival, Concerts for the Coast and Thunder on the Gulf) have all been tremendously successful, yielding record attendances and strong hotel/condo occupancy rates have been reported by local tourism representatives.
Click here to view a summary of BP’s financial commitment to Alabama.
