The economic impact report was produced by the Nuclear Energy Institute based on an analysis of financial data from 2011 provided by NextEra. The statement indicates a positive annual impact on of $535 million to the state of New Hampshire, according to the report, as well as a broader economic effect of close to $1 billion when Massachusetts is included in the equation.
According to comments quoted in a press release from NEI Vice President Richard Myers, “The study confirms that Seabrook is vitally important in strengthening regional and state economies through job creation, tax payments, direct and secondary spending.”
A NextEra chart accompanying the report shows the Seabrook Station supports 2,600 total jobs in New Hampshire, 650 of which are direct employee at the power plant, with about 1980 indirect jobs supported by the plant through its purchase of goods and services.
The earning power of Seabrook Station employees is significantly higher than the county averages. According to the report, of the 346 plant employee who live in Rockingham County, the average earnings is $109,340 per person, and of the 155 employees who live in Stafford County average $138,560. The average earnings in the workforce in Rockingham and Strafford counties are listed as $47,080 and $45,520 respectively, in the report.
In 2011, according to the report, Seabrook Station’s expenditures within Rockingham and Stafford counties in New Hampshire and Essex County in Massachusetts totaled $133 million, or 43 percent of the plant’s total spending for the year, which equaled $312 million.
Included in the report is stimulus factor called the “ripple effect” plant spending has in the region.
“For every dollar of output from Seabrook (Station), the local economy produces $1.34, while New Hampshire and Massachusetts economies produce $1.39 and $1,10, respectively.”
The Nuclear Energy Institute is “the policy organization of the nuclear energy and technology industries,” according to its website. The NEI is involved in national and global policy making, which includes providing legislative support for the nuclear industry.
“NEI’s objective is to ensure the formation of policies that promote the beneficial uses of nuclear energies and technologies in the United States and around the world,” according to its website.