MADISON WI – December 12, 2019 – A new study from Fair Rates for Wisconsin’s Dairyland (FRWD) quantifies the economic impact of Wisconsin energy producers. Conducted by the University of Wisconsin-Whitewater’s Fiscal and Economic Research Center (FERC), the study finds that there are substantial direct, indirect, and induced effects on the economy from the state’s energy providers.
Key findings of the report include:
• Between worker income and economic output, Wisconsin energy providers annually contribute more than $20 billion to Wisconsin’s economy.
• Total income of Wisconsin energy provider employees amounts to over $2.7 billion.
• Wisconsin energy providers generate a total of $1.14 billion annually in taxes, which includes payments in lieu of taxes made by municipal utilities.
“From restaurants, to healthcare services and real estate – Wisconsin energy providers and their labor partners invest and drive economic activity throughout Wisconsin communities,” stated Kathi Kilgore, FRWD Executive Director. “These providers support the communities they help power with the taxes they pay annually, and provide thousands of high-wage jobs. They truly help power Wisconsin’s economy.”
Professor Russell Kashian of the University of Wisconsin-Whitewater Department of Economics and FERC Director explained more about the report. “While we look at the impact the energy industry has on the overall economy, it is also important to recognize that the industry is critical to Wisconsin’s future economic growth. Businesses look for locations to grow and relocate, and as they do, they seek affordability and reliability for their energy needs.”
The report is available on FRWD’s website here.
About Fair Rates for Wisconsin’s Dairyland (FRWD)
Electricity is an essential element and a key part of the foundation that has fueled the growth of Wisconsin’s economy and promoted a higher quality of life for residents. Fair Rates for Wisconsin’s Dairyland (FRWD) advocates to (1) integrate distributed generation into Wisconsin’s electric infrastructure fairly (2) upgrade and maintain Wisconsin’s aging infrastructure as needed so that the flow of power continues to be reliable, and (3) ensures everyone in the state pays a fair rate and has full access to affordable energy and to sound, unbiased information about energy issues.
FRWD members include utilities, labor, corporations, non-profit organizations, and the trades.
More information at www.fairwisconsinrates.com, or find FRWD on Twitter and Facebook.