New study touts benefit of Indian Point

The National Energy Institute (NEI) is out with a new study, released today, that highlights the financial impact of the Indian Point nuclear power plant in Westchester County.

According to the NEI’s study, which can be downloaded here, Indian Point pumps $1.6 billion into the state’s economy each year. The same study says the plant contributes an additional $900 million to the nation’s economy.

From the study:

“Indian Point’s annual spending creates a huge ripple effect in the state and nationwide: The facility’s operation generates $1.3 billion of annual economic output in the local counties, $1.6 billion statewide and $2.5 billion across the United States. The study finds that for every dollar of output from Indian Point, the local economy produces $1.27, the state economy produces $1.55 and the U.S. economy produces $2.48.

Entergy provides higher-than-average wages at Indian Point: Entergy directly employs approximately 1,000 people at Indian Point. Because they are technical in nature, these jobs typically are higher-paying. This direct employment leads to another 2,800 indirect jobs in surrounding counties and 1,600 in other industries in New York for a total 5,400 jobs in-state. There are an additional 5,300 indirect jobs outside the state for a total of 10,700 jobs throughout the United States.”

The Business Council of New York State, Inc., supports the continued operations of Indian Point, which is essential to the New York State economy. This electrical generation facility provides 2,069 megawatts of baseload power to New York’s electrical grid every single day. Indian Point accounts for up to 11 percent of the power used statewide and 25 percent of the power in both Westchester County and New York City.