Skip to main content

Site Selecting Jobs and Investments in the Electricity Market

site_section_logo If you need evidence of the power and value of the electricity market, Site Selection has you covered. The self-described magazine of corporate real estate strategy and area economic development has published a listing of utilities that have added the most jobs and invested the most resources in the last year. Site Selects lists the top 10, always a popular round number for this kind of endeavor. Frankly, the numbers of jobs in particular surprised and delighted me. These are the companies
(most of them, also delightful) with nuclear holdings:
Alabama Power: the Southern Company subsidiary's economic development team helped companies create 1,810 new jobs in 2013 with total capital investment closing in on $2 billion.
American Electric Power: AEP hosted 10 educational forums across its service territory attended by more than 400 community partners and elected officials. [Writer Adam Bruns didn’t get job/investment numbers for AEP.]
Duke Energy: The calendar year 2013 saw the team helping to garner more than 100 project wins, approximately $3 billion in corporate capital investment and the addition of over 13,700 new jobs in its multi-state territory, where it serves 7.2 million customers amid a population of 21 million.
Entergy: Totaled 9,221 new jobs and more than $20.7 billion in corporate facility investment in 2013, marked by dramatic growth in the Gulf Coast economy.
FirstEnergy: FirstEnergy and its 10 utility operating companies helped corporate end users invest nearly $3 billion and create a planned 7,792 jobs across its service territory of 6 million customers amid a population of 13.4 million across six states.
Florida Power & Light: The team at FPL helped companies in its territory create 11,997 jobs with nearly $15 billion in project investments, among 4.6 million customers in a 35-country area of Florida populated by 13.3 million people.
Georgia Power: The utility's Community & Economic Development team helped attract 18,532 new jobs and $2.7 billion in private-sector capital investment last year via 78 projects.
Tennessee Valley Authority: TVA's economic development team continues to be a leader among leaders in such categories as total new jobs it helped companies create (52,000) and total capital investment associated with that job creation ($5 billion) across its huge seven-state territory serving a population of 9 million people.
In case you’re not keeping count, that’s 8 of 10 companies that have nuclear holdings – I’ve directed the links to the relevant nuclear page for each company. Heck, the story is illustrated with a shot of Georgia Power’s (which is a subsidiary of Southern Co.) Plant Vogtle project. The remaining two companies have nuclear cousins and deserve a shout out, too:  they are Gulf Power (another Southern Co. subsidiary) and LG&E (a subsidary of PPL, which has nuclear holdings).
By all means, read the whole thing – a very impressive job by Adam Bruns. The number of jobs created and amount of money invested is staggering, leading one to believe, and not without merit, that where goes the electricity generation business, so goes the nation.

Comments

Popular posts from this blog

A Billion Miles Under Nuclear Energy (Updated)

And the winner is…Cassini-Huygens, in triple overtime.

The spaceship conceived in 1982 and launched fifteen years later, will crash into Saturn on September 15, after a mission of 19 years and 355 days, powered by the audacity and technical prowess of scientists and engineers from 17 different countries, and 72 pounds of plutonium.

The mission was so successful that it was extended three times; it was intended to last only until 2008.

Since April, the ship has been continuing to orbit Saturn, swinging through the 1,500-mile gap between the planet and its rings, an area not previously explored. This is a good maneuver for a spaceship nearing the end of its mission, since colliding with a rock could end things early.

Cassini will dive a little deeper and plunge toward Saturn’s surface, where it will transmit data until it burns up in the planet’s atmosphere. The radio signal will arrive here early Friday morning, Eastern time. A NASA video explains.

In the years since Cassini has launc…

Missing the Point about Pennsylvania’s Nuclear Plants

A group that includes oil and gas companies in Pennsylvania released a study on Monday that argues that twenty years ago, planners underestimated the value of nuclear plants in the electricity market. According to the group, that means the state should now let the plants close.

Huh?

The question confronting the state now isn’t what the companies that owned the reactors at the time of de-regulation got or didn’t get. It’s not a question of whether they were profitable in the '80s, '90s and '00s. It’s about now. Business works by looking at the present and making projections about the future.

Is losing the nuclear plants what’s best for the state going forward?

Pennsylvania needs clean air. It needs jobs. And it needs protection against over-reliance on a single fuel source.


What the reactors need is recognition of all the value they provide. The electricity market is depressed, and if electricity is treated as a simple commodity, with no regard for its benefit to clean air o…

Why Nuclear Plant Closures Are a Crisis for Small Town USA

Nuclear plants occupy an unusual spot in the towns where they operate: integral but so much in the background that they may seem almost invisible. But when they close, it can be like the earth shifting underfoot.

Lohud.com, the Gannett newspaper that covers the Lower Hudson Valley in New York, took a look around at the experience of towns where reactors have closed, because the Indian Point reactors in Buchanan are scheduled to be shut down under an agreement with Gov. Mario Cuomo.


From sea to shining sea, it was dismal. It wasn’t just the plant employees who were hurt. The losses of hundreds of jobs, tens of millions of dollars in payrolls and millions in property taxes depressed whole towns and surrounding areas. For example:

Vernon, Vermont, home to Vermont Yankee for more than 40 years, had to cut its municipal budget in half. The town closed its police department and let the county take over; the youth sports teams lost their volunteer coaches, and Vernon Elementary School lost th…