Report: Indian Point Stimulates Over $1.5B in Economic Activity

Indian Point boosts New York’s economy by $1.5 billion per year

A new report claims that the Indian Point nuclear power plant contributes more than $1.5 billion to New York’s economy every year.

The report was released by the Nuclear Energy Institute, an industry lobbying group.

In the U.S., “the second largest sector that benefits from Indian Point’s operation is manufacturing, particularly for purchases of pumps, motors and other equipment,” the report said.

The plant paid about $30 million in state and local property taxes last year, making it one of the largest taxpayers in Westchester County, the report said. Its total tax impact, combining direct and secondary impacts, was calculated to be $340 million in tax revenue to local, state and federal governments.

Opponents have repeatedly tried to shut the plant down. There are currently efforts to block renewal of the plant’s Nuclear Regulatory Commission licenses.

“Indian Point greatly strengthens the local, regional and state economies through job creation, tax payments, and direct and secondary spending,” said Robert Myers, NEI’s vice president for policy development and planning, who directed the study. “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.”

The plant’s owner, Entergy, says that the new report shows that the plant’s continued operation is essential.

The report says that Indian Point employs around 1,000 people. The power plant plant stimulates another 2,800 jobs in surrounding the counties, including Westchester, Rockland, Orange, Putnam and Dutchess, as well as 6,900 jobs in other industries in the rest of New York and the nation.

The study says the plant is also one of Westchester’s largest taxpayers, and provides a reliable source of electricity.

Indian Point’s opponents contend that the plant is dangerous and can be easily replaced.

Supporters of Indian Point say that while there is talk of alternative sources, none of them are reliable enough to replace the 2,000 megawatts produced there.

Indian Point Energy Ctr_EntergyIn fact, the study said Indian Point is a “critical part” of the state’s clean energy mix generating about 25 percent of the electricity used in New York City and Westchester annually, approximately 10 percent of the state’s total electricity supply. Indian Point also produces about 24 percent of the state’s carbon-free electricity, preventing the emission of more than 8.5 million tons of carbon dioxide annually, the equivalent of more than 1.6 million cars.

Indian Point Units 2 and 3 continue to operate on its original licenses, while the application for a 20-year extension is processed by the Nuclear Regulatory Commission.

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