More than 37,000 jobs; more than $2 billion in payroll
COLUMBIA, S.C.--(BUSINESS WIRE)--
The Carolinas' nuclear energy generating facilities provide a
significant economic impact to North Carolina and South Carolina
according to a new study. The Carolinas Nuclear Cluster, businesses
directly connected with the nuclear industry, commissioned the research
to obtain a clear measure of the economic effects of the nuclear
industry.
In the Carolinas, the nuclear industry tops 37,000 jobs, more than $2
billion in payroll, earned income of more than $4.7 billion and more
than $750 million paid in state and local taxes.
Total impacts are from employment associated with the generation of
electricity at seven nuclear stations in North Carolina and South
Carolina, and employment at the Savannah River and Barnwell sites.
Researchers used purchases and payroll data from these businesses in
their evaluation.
"Our nuclear cluster is both an important source of energy to residents
and businesses, as well as a major player in Carolinas' job and income
creation," says Mark Henry, study researcher and co-coordinator of the
Regional Economic Development Research Laboratory at Clemson University.
Henry adds, "This study does not count the out-of-Carolinas nuclear
energy work by large engineering firms in the cluster, so the study
estimates of the economic impacts are quite conservative."
The nuclear energy industry provides positive economic impact through
its payroll and supply chain purchases. "These business relationships
span the world. Our engineers and energy experts routinely do projects
in other nations, bringing back dollars to the Carolinas," says Mark
Fecteau, Westinghouse managing director of Global Growth and Innovation.
Fecteau is also the current chairman of the Carolinas Nuclear Cluster.
The cluster is encouraging additional suppliers to locate and grow
inside the Carolinas. The group is holding information sessions in the
Carolinas to encourage local businesses to supply the industry. Examples
of businesses in the nuclear supply chain are industrial supply firms,
valve manufacturers, motor and pump makers, design firms, maintenance
companies and services such as security and laboratories.
The Carolinas Nuclear Cluster started in 2007. Duke Energy played a
catalytic role in team building for the cluster, which now has
activities across business, educational and governmental organizations.
The cluster works under the umbrella of SC's Council on Competitiveness,
also known as New Carolina. New Carolina is a public-private partnership
working to increase per capita income and enhance South Carolina's
economic competitiveness through a cluster development strategy,
spurring growth of diverse industry clusters such as tourism,
transportation, distribution and logistics, engineering and textiles.
The economic impact study was made possible through a grant from
AdvanceSC, a limited liability corporation established by Duke Energy
and managed by an independent board, to support economic development in
the Carolinas.
FACT SHEET
The economic impact study outlines four critical areas of impact of the
nuclear power industry:
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1.
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Current Jobs
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In N.C.:
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Direct 3,822 and Total 9,256
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In S.C.:
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Direct 14,986 and Total 28,074
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Two States:
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Direct 18,808 and Total 37,330
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2.
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Current Labor Income
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In N.C.:
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Direct $0.323 billion and Total $0.451 billion
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In S.C.:
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Direct $1.324 billion and Total $1.846 billion
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Two States:
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Direct $1.647 billion and Total $2.297 billion
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3.
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Current Other Property Income
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In N.C.:
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Direct $0.973 billion and Total $1.085 billion
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In S.C.:
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Direct $1.088 billion and Total $1.276 billion
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Two States:
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Direct $2.061 billion and Total $2.361 billion
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4.
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State and Local Tax Revenues
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In N.C.:
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Total $0.314 billion
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In S.C.:
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Total $0.437 billion
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Two States:
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Total $0.751 billion
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Well-paying jobs:
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In the study, a plurality of employees earn between $75,001 and
$100,000.
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Second in frequency is the group that makes between $100,001 and
$150,000 per year.
Nuclear energy in the Carolinas:
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Nuclear energy's share of total electricity generation: 30.8% in NC
and 51.4% in SC.
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Combined, North and South Carolina have more than 11% of the nation's
nuclear capacity.
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There are 12 reactors at seven plant sites producing electricity in
the Carolinas.
New plant construction would bolster figures (Projections by an
Oxford Economics study on added impacts over the next 20 years from new
nuclear plant construction and operations):
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Construction Peak - 54,300 people; Operations Phase - 17,200 people
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Projected new income: Construction Peak - $4.1 billion; Operations
Phase - $1.7 billion
About New Carolina
New Carolina - also known as SC's Council on Competitiveness - is a
public-private partnership working to increase per capita income and
enhance South Carolina's economic competitiveness through a cluster
development strategy. Visit www.newcarolina.org
for more information.
For New Carolina
Scott Carlberg, Nuclear Cluster Coordinator,
704-841-7649
Source: New Carolina
<<Business Wire -- 10/28/2009>>
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