"Con Edison doesn't just keep New York City plugged in; a new study indicates it generates a significant positive economic impact in the form of jobs, contracts, and tax revenues for the city. The study conducted by HR&A Advisors, along with Con Edison, sought to quantify the utility giant's spending and other economic contributions in New York City and Westchester County including a big property tax bill. Con Edison provides power to 9 million people and 350,000 businesses across the city and Westchester."
"The study found that Con Edison in 2024 spent $2 billion on contracts with New York State and New York City businesses, roughly evenly distributed between elsewhere in the state and the city. Approximately 25% of that amount ($494 million) was allocated to small and diverse businesses, representing a nearly 30% increase since 2021. Con Edison supports 37,700 jobsstatewide, including 14,000 directly employed by the utility; more than 80% of employees live in New York, according to the study."
Con Edison supplies power to 9 million people and 350,000 businesses across New York City and Westchester. HR&A Advisors and Con Edison quantified company spending and economic contributions, finding a $23 billion economic impact in 2024, including $15.3 billion in direct impact. Con Edison spent $2 billion on contracts with state and city businesses; about $494 million (25%) went to small and diverse firms, nearly 30% more than in 2021. The utility supports 37,700 jobs statewide, including 14,000 direct employees, with over 80% living in New York. Nearly 40% of employees attended CUNY or SUNY, and more than 75% graduated from New York-based schools. Con Edison seeks approval for rate increases that could raise average electric bills 11.4% and gas bills 13.3% while citing contracts, infrastructure investment, and taxes paid.
Read at www.amny.com
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