Constructing New Transmission Infrastructure Would Repower the US Economy
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- May 19, 2021 3:45 pm GMTMay 19, 2021 12:11 pm GMT
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A report from the international trade association WIRES shows that improving the transmission lines would create far-reaching employment and GDP benefits
WIRES, the international trade association that promotes investment in all aspects of the high voltage grid, has recently released an analysis prepared on its behalf by London Economics International LLC (LEI) that highlights the short- and long-term economic benefits and job creation that would be actualized by financing high voltage transmission projects.
The Repowering America: Transmission Investment for Economic Stimulus and Climate Change report identified $83 billion in planned transmission projects around the country that have been ISO/RTO Board-approved and/or recommended to regulators. LEI’s investigation found that this infrastructure investment would boost GDP by $42 billion, create approximately 442,000 well-paying jobs, and hike direct local spending by nearly $39 billion cumulatively during the construction phase of the projects.