Indian Point nuclear plant supports New York economy

Indian Point nuclear plant supports New York economy
Indian Point nuclear plant supports New York economy | Courtesy of

Indian Point nuclear power plant, which is located in Westchester County, New York, was recently estimated to contribute $1.6 billion to the economy of the state of New York and $2.5 billion to the entire U.S.

The study demonstrated that Indian Point units 2 and 3 operations in 2014 alone brought in $1.3 billion of yearly output throughout local counties. It generated an estimated $1.6 billion throughout the state. Westchester County is one of the state’s biggest taxpayers, and the plant contributed $30 million to local and state taxes. This amounts to $340 million benefitting local, federal, and state governments.

“Indian Point greatly strengthens the local, regional and state economies through job creation, tax payments, and direct and secondary spending,” Richard Myers, NEI’s vice president for policy development and planning, who directed the study, said. “In many ways, Indian Point and its 1,000 employees provide outputs that are crucial for the well-being of the local communities and the state.”

In addition, the plant employs approximately 1,000 people. All of its employees have a combined yearly payroll that amounts to approximately $140 million, adding another 4,400 jobs to New York.

“Indian Point is a safe, proven source of reliable, affordable, carbon-free electricity that New Yorkers can count on,” Bill Mohl, president of Entergy Wholesale Commodities, said. “The facility prevents the release of 8.5 million metric tons of carbon dioxide annually — the same as taking 1.6 million cars off the road. It produces about 10 percent of New York State’s total electricity, enough to power 2 million homes, and it does so very reliably. Over the past 10 years, the unit has operated at a capacity factor over 93 percent. This reliability is above the nuclear industry’s average and well above any other source of electricity.”

The estimates were published by the Nuclear Energy Institute in a study titled “Economy Impacts of the Indian Point Energy Center.”

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Nuclear Energy Institute Westchester County Government

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