Study focuses on economic impact of nuclear industry

The Carolinas’ nuclear energy generating facilities provide a significant economic impact to North and South Carolina, according to a new study by the Carolinas Nuclear Cluster.

The cluster consists of businesses directly connected with the nuclear industry. It commissioned the study to obtain a clear measure of the economic effects of the nuclear industry.

In the Carolinas, the nuclear industry tops 37,000 jobs, more than $2 billion in payroll, earned income of more than $4.7 billion and more than $750 million paid in state and local taxes.

Total impacts are from employment associated with the generation of electricity at seven nuclear stations in North Carolina and South Carolina, and employment at the Savannah River and Barnwell sites. Researchers used purchases and payroll data from these businesses in their evaluation.

Mark Henry is the study researcher and co-coordinator of the Regional Economic Development Research Laboratory at Clemson University.

“Our nuclear cluster is both an important source of energy to residents and businesses, as well as a major player in Carolinas’ job and income creation,” Henry said. “This study does not count the out-of-Carolinas nuclear energy work by large engineering firms in the cluster, so the study estimates of the economic impacts are quite conservative.”

The nuclear energy industry provides a positive economic impact through its payroll and supply chain purchases.

Mark Fecteau is Westinghouse’s managing director of Global Growth and Innovation. He also is the current chairman of the Carolinas Nuclear Cluster.

“These business relationships span the world,” Fecteau said. “Our engineers and energy experts routinely do projects in other nations, bringing back dollars to the Carolinas.”

The cluster is encouraging additional suppliers to locate and grow inside the Carolinas. The group is holding information sessions in the Carolinas to encourage local businesses to supply the industry.

Examples of businesses in the nuclear supply chain are industrial supply firms, valve manufacturers, motor and pump makers, design firms, maintenance companies and services such as security and laboratories.

The Carolinas Nuclear Cluster started in 2007. The cluster works under the umbrella of South Carolina’s Council on Competitiveness or New Carolina. New Carolina is a public-private partnership working to increase per capita income and enhance South Carolina’s economic competitiveness through a cluster development strategy, spurring growth of diverse industry clusters such as tourism, transportation, distribution and logistics, engineering and textiles.

More information is available by contacting Nuclear Cluster Coordinator Scott Carlberg at (704) 841-7649.