A study of the economic impact of the R. E. Ginna Nuclear Power Plant in Ontario, NY, released today by the Washington, D.C.-based Nuclear Energy Institute, concludes the plant adds $358 million to New York’s economic output and nearly $450 million across the entire U.S. economy.
“This study confirms that Ginna greatly strengthens the local, regional and state economies through job creation, tax payments, and direct and secondary spending. In many ways, nuclear energy facilities and their employees are invaluable to the quality of life in the communities where they operate,” said Richard Myers, NEI’s vice president for policy development, planning and supplier programs.
The study analyzed the impact of Ginna’s operations through 2029—the end of its 60-year operating license. Spending, and thus the economic impact of the plant, is considerably higher in years with refueling and maintenance outages when an additional 800 to 1,000 skilled workers earn up to $25 million. Ginna performs this type of outage on an 18-month frequency.
The full study is available here.
“Operationally, Ginna is an outstanding performer and is recognized as a reliable generating asset in the nuclear industry,” said Maria Korsnick, chief nuclear officer, Constellation Energy Nuclear Group and senior vice president, Exelon.
“Ginna creates very positive financial impacts for the entire state of New York and, as this study shows, it is a very important asset for the local economy providing affordable, reliable, baseload electricity that New York homeowners and businesses can count on. Ginna also provides tremendous carbon-prevention benefits that are all too often overlooked. This study affirms Ginna’s importance as a powerful economic engine and a clean energy asset.”
The R.E. Ginna Nuclear Power Plant is located on 426 acres along the south shores of Lake Ontario in Ontario, N.Y., about 20 miles northeast of Rochester. Ginna is a Westinghouse pressurized water reactor with an output of approximately 580 megawatts—enough electricity to power 400,000 homes. The U.S. Nuclear Regulatory Commission has licensed the plant to operate through 2029.