Maryland's Plan to Reduce Greenhouse Gas (GHG) Emissions- Appendix E. Economic Impact Analysis

Source/Sponsor: 
Maryland Department of the Environment (MDE)
Creator/Author: 
Towson University, Regional Economic Studies Institute (RESI)
Description: 

Appendix E summarizes the results of the modelling of total economic impacts of offshore wind energy development in two phases: an investment phase and an operation phase. An investment of $1 million dollars would generate less than 8 jobs, $1.6 million in output, and $0.5 million in wages on average. But once operational, offshore wind would support annually a total of 48 jobs, $8.3 million in output, and $3.6 million in wages. The total state and local tax revenues would amount to approximately $97,953 on average per $1 million for the investment phase, and an annual total of $424,731 for the operation phase.

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Publication Date: 
Saturday, December 31, 2011
7 MB
Resource Type: 
Document
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