Nuclear plants are important economic engines for both our country and in the communities where they operate. They provide hundreds of thousands of Americans with high-paying, long-term employment; generate billions of dollars in economic activity; and provide consumers and businesses with reliable, around-the-clock electricity at a low cost. Nuclear plants contribute nearly $60 billion annually to America’s GDP; $12 billion each year in local, state and federal tax revenues; and nearly $45 billion worth of electricity.
At the state and local level, nuclear energy plants strengthen economies through jobs, taxes, and direct and secondary spending. Each of the nation’s nuclear reactors employs between 400 and 700 workers at wages that are an average of 36 percent higher than the prevailing local salary rate. These plants often serve as the lifeblood in the small communities where they operate – each plant contributing an estimated $16 million in state and local taxes, $40 million in annual payroll and $470 million in revenue from buying local goods and services. They also provide much-needed funding for schools, roads and infrastructure projects. On average, every dollar spent to operate a typical nuclear energy facility creates an additional $1.04 in the local community. The early closure of nuclear plants has a devastating impact on towns where these plants have spent years supporting local communities. Towns that experience the shuttering of a nuclear plant often suffer from cuts in services and school funding, higher property taxes and an exodus of their skilled workforce.
Investing in advanced nuclear technology has enormous long-term potential, but these benefits are not exclusive to the future. Investing in new technologies creates jobs now and generates even more economic activity down the line.
Given these tremendous economic benefits as well as nuclear’s carbon-free, reliable energy production, it is more important than ever to support nuclear energy in the U.S. and preserve our existing plants.
for supporting nuclear jobs
This report from IHS Markit assesses the impact of the premature retirement of the Salem and Hope Creek nuclear power plants on New Jersey consumers and the state economy.