Offshore wind on the east coast of the United States will bring billions of dollars in economic benefits

A study on U.
S.
offshore wind published last week by California-based BW Research on behalf of environmental entrepreneurs (E2, an affiliate of the Natural Resources Defense Council's NRDC) revealed that offshore wind farms located on the U.
S.
Atlantic coast could bring billions in economic benefits and create thousands of jobs
in states like New York, New Jersey, Virginia, North Carolina and more.

"This report proves that offshore wind has the potential to increase jobs, tax revenues, and economic benefits in these states while protecting their coastal economies," said Grant Carlisle, E2's director of advocacy, "and it's a great deal for states and businesses, bringing in investments and taxes that far exceed the cost of wind farms, and have nearly doubled in some states
.
" ”

Using the average size of offshore wind farms (i.
e.
353 MW in size, about 44 offshore wind turbines) as examples, the report examines the advantages in five states, as detailed below:

South Carolina: 5,647 jobs, $242 million in wages, and $877.
8 million in economic growth;

North Carolina: 5,522 jobs, $251 million in wages, and $710 million in economic growth;

Virginia: 4,377 jobs, $108 million in wages, and $648.
7 million in economic growth;

New Jersey: 4,313 jobs, $278.
9 million in wages, and $702 million in economic growth;

New York State: 4,063 jobs, $281 million in wages, and $737 million in economic growth
.

The report also compares
the benefits of offshore wind development to the potential threat of offshore oil and gas development to the tourism and entertainment industry.
The report's findings are clear, concluding that a one-month suspension of beaches and fisheries due to the oil spill would cost the five states more than $2.
7 billion in gross domestic product and $1.
3 billion
in lost wages.

The cost of a one-month beach and fishing moratorium caused by an oil spill:

South Carolina: $117 million in lost wages, $314 million in lost gross domestic product;

North Carolina: $57 million in lost wages, $120 million in lost gross domestic product;

Virginia: $90 million in lost wages, $175 million in lost gross domestic product;

New Jersey: $163 million in lost wages, $307 million in lost gross domestic product;

New York State: $870 million in lost wages, $1.
8 billion
in lost gross domestic product.

"While solar, clean vehicles, and energy efficiency continue to prove their importance to U.
S.
job growth, offshore wind is also an important booster, providing tremendous economic and quality jobs to the East Coast economy," said
Kit Kennedy, the company's senior director.