FOR IMMEDIATE RELEASE
TCAD Issues Study on Economic Impact of Repowering the Cayuga Power Plant
Ithaca, New York - Tompkins County Area Development (TCAD) commissioned Camoin Associates to calculare the economic impact on New York State if the Cayuga Operating Company, LLC (COC) is repowered from coal to natural gas. The major assumption of the study is that if COC is not repowered, it would be decommissioned and the closure would result in the loss of all power plant jobs.
Key findings in the study include:
- The construction phase of the project would result in 46 new direct "construction job-years" generating $5.3 million in new direct earnings onsite and an additional $3.5 million in indirect earnings for New York State.
- Construction would result in $16.4 million in new sales in the State, including equipment and materials.
- After construction, 116 new jobs would be created in the State, including 30 direct jobs at the site.
Economic impact is one of the many factors the State's Public Service Commission will consider as they decide the future of the plant.
For More Information:
Michael B. Stamm
michaels@tcad.org
607-273-0005
About Camoin Associates
Camoin Associates is a professional service firm specializing in advising economic development organizations and municipalities in creating data-driven strategies, policies and programs.
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