“Powering America – The Economic and Workforce Contributions of the U.S. Electric Power Industry”
M.J. Bradley & Associates prepared this detailed study of the entire electricity industry’s economic and jobs impact on behalf of the Edison Electric Institute (EEI), the American Public Power Association (APPA) and the National Rural Electric Cooperative Association (NRECA).
MJB&A worked with Economic Modeling Specialists International, LLC (Emsi) to characterize the economic impacts of the industry and provide detailed statistics on the size of the industry’s workforce, as well as information about the median wages for key job categories. The data used to conduct the modeling come from official U.S. Government sources. Additional data were provided by the Center for Energy Workforce Development (CEWD).
This is the most comprehensive study and report ever done on the full dimensions of jobs and employment – and the broad economic impact – of the electric power industry.
Key findings include that, in total, the U.S. electric power industry supports more than 7 million American jobs. The economic contribution of the industry to the U.S. economy is equivalent to 5% of the national Gross Domestic Product, or $880 billion contributed to GDP annually. The industry invests more than $100 billion annually, over and above operations and maintenance, to bring cleaner, more resilient resources on line and improve the grid’s security and performance.
The reports notes that electricity is the backbone of our economy and is crucial to our national security; and concludes by stating that the report is designed to help policymakers, customers, and other businesses understand the importance and complexity of this vital American success story.
The full report is available here.
The press release is available here.