Harnessing offshore wind energy would triple the number of wind energy jobs in five Atlantic Coast states according to a new economic analysis from the national, nonpartisan business group E2 (Environmental Entrepreneurs).
The report, Offshore Wind: Generating Economic Benefits on the East Coast, studied the economic impact from building a single average offshore wind farm (352 MW, or roughly 44 turbines) off each of the coasts of New York, New Jersey, Virginia, North Carolina, and South Carolina. According to the analysis, the five average offshore wind projects would generate nearly 25,000 jobs construction and operational jobs, with an average of 4,950 jobs added per state, and cumulatively generate $3.6 billion in economic benefits. Workers in the five states would directly earn more than $1.3 billion in wages during construction and, once completed, $57 million annually during operation.
Beyond the jobs and other economic benefits, the analysis forecasts that construction of an average-sized offshore wind project in each of the five states would generate $265 million in federal taxes and more than $160 million in state and local taxes, cumulatively. Once completed, tax revenue from operating the wind farms in all five states would reach nearly $19 million annually throughout the life of the wind farms.
