Study shows FP&L contributes $1.4 billion to state's economy

The Nuclear Energy Institute (NEI) today released a study showing that Florida’s economy gets a $1.4 billion boost annually from the state’s nuclear energy facilities.

The study, "Economic Impact of Florida Power & Light Company's (FPL) Nuclear Power Plants,” said the company’s financial impact results from higher wages and its substantial “ripple” effect” on the state’s economy. FPL pays $70 million in local and state taxes and supports more than 5,800 direct and secondary jobs in Florida.

"This study confirms that operation of FPL's nuclear energy facilities is vitally important to strengthening the state economy through job creation, tax payments, and direct and secondary spending,” NEI's vice president for policy development and planning Richard Myers said. “In a multitude of ways, nuclear energy facilities and their employees are invaluable to the locales in which they operate as well as across Florida."

FPL CEO and President Eric Silagy said their nuclear plants deliver significant benefits for customers by helping to keep bills low, air clean and the power grid reliable. "Beyond these benefits, nuclear plants are huge economic engines that support thousands of jobs at higher-than-average wages, many local businesses, and play an important role in the communities where they are located," Silagy said. 

The study was reviewed by an independent source who confirmed its credibility.