Study examines economic impact of Orange and Rockland Utilities
Orange and Rockland Utilities (O&R) contributes $1.9 billion annually to the New York and New Jersey economies, a new study has revealed.
The economic impact study, conducted for O&R by HR&A Advisors, also revealed that the company supports more than 3,400 jobs through direct employees.
“Orange and Rockland Utilities, Inc. is proud to play an important role in powering New York’s and New Jersey’s economies,” Robert Sanchez, president and CEO of Orange and Rockland Utilities, said. “We’re building the grid of the future to provide our New York and New Jersey customers with safe, reliable, clean energy. By hiring a diverse workforce, creating an inclusive workplace, and supporting the trades, local businesses, and women and minority business enterprises, we’re also supporting the values of the communities we serve.”
Orange and Rockland Utilities, a subsidiary of Consolidated Edison, provides electric service to approximately 310,000 customers in southeastern New York State and northern New Jersey, and natural gas service to approximately 143,000 customers in New York.
Among the key findings in the report, O&R generated $1.9 billion of total economic output and supported 1,130 jobs at the company along with an additional 2,280 jobs in its service area. Further, it paid $159 million in state and local taxes in New York, and $25 million in state and local taxes in New Jersey. That’s enough tax revenue to pay 2,300 public school teachers or 2,800 social workers.
Also, it found that more than 95 percent of O&R employees live in New York or New Jersey, with about 27 percent of employees identifying as female and 28 percent identifying as people of color. Both of these percentages are higher than the national averages. Further, approximately 52 percent of O&R’s employees are union members of IBEW Local 503, which is 2.5 times the industry average. Also, the typical O&R employee has worked at the company for 14 years, which is more than twice the national industry average.
“Not only does O&R literally power the communities it serves in New York and New Jersey through its infrastructure, the company also generates significant economic impacts through all of its activity building, maintaining, and operating its infrastructure,” said Kate Wittels, partner at HR&A Advisors, Inc.
The study also revealed that O&R spent $117 million in contract spending in the study year, 2022. That includes $34 million spent on minority – or women-owned business enterprises and small businesses. And through its charitable giving, Orange and Rockland Utilities supported approximately 200 New York- and New Jersey-based non-profits with approximately $800,000 in grants in 2022. In addition, the company’s employees volunteered nearly 1,000 hours in 2022.
