Co-ops energize economies

November 2023

Electric cooperatives support nearly 623,000 jobs

I am pleased to share with you a recent analysis that underscores the immense economic impact of electric cooperatives in the United States. This study, titled “Economic Powerhouses: The Economic Impacts of America’s Electric Cooperatives,” conducted by Strategen Consulting and commissioned by the National Rural Electric Cooperative Association and the National Rural Utilities Cooperative Finance Corporation, sheds light on how electric cooperatives shape our local and national economies.

The findings reveal a compelling narrative of success, showcasing how electric cooperatives support nearly 623,000 jobs. From 2018 to 2022, electric cooperative activities injected an impressive $554 billion into the U.S. gross domestic product, averaging $111 billion per year. Moreover, these cooperatives generated $135 billion in federal, state and local tax revenue during the same period.

This report solidifies what many of you already know — affordable and reliable electricity is a cornerstone for a successful economy. We unwaveringly focus on the long-term prosperity of our local communities as we continue to provide essential services and foster economic growth.

As general manager of your statewide association, I am heartened to witness electric cooperatives extending their impact beyond traditional roles. Beyond poles and wires, cooperatives are investing in innovation — from business incubators to building broadband networks and attracting new employers. The study also revealed that the integration of new technologies, such as renewables and electric vehicles, played a significant role in the increased capital spending by co-ops. These forward-looking investments align with our commitment to innovation and sustainability.