Economic Impact Analysis of the Cape Wind Offshore Renewable Energy Project

Source/Sponsor: 
Cape Wind Associates, LLC
Creator/Author: 
Global Insight
Description: 

The report estimated the economic and fiscal impacts that would occur statewide and in Barnstable County and statewide during the manufacturing/assembly (M/A) and construction/installation (C/I) and operation phases of the Cape Wind project. Positive economic and fiscal impacts during the M/A and C/I phase include: creation of between 597- 1,013 direct, indirect, and induced jobs; increase in labor income of between $32-$52 million annually; increase in property income of between $9.2-$14.8 million annually; and, increase in corporate income tax revenues of between $1.3-$2.1 million annually. Positive economic and fiscal impacts during the operation phase include: annual permanent employment increase of 154 jobs; annual labor income increase of $6.9 million; personal income tax revenue increase of $346,500 annually; corporate income tax revenue increase of $113,900 annually; and, annual property tax revenue increase of $279,678.

pdf
Publication Date: 
Wednesday, April 2, 2003
76 KB
Resource Type: 
Document