In the new Economic Impact Study of the Grand River Dam Authority, there are plenty of numbers to consider. Numbers related to things like GRDA’s overall operations, new construction and investments, tourism and quality of life contributions and more.
Generating jobs … Construction trailers, equipment and plenty of activity surround the Grand River Dam Authority’s Grand River Energy Center (then known as the Coal Fired Complex) during the construction of Unit 2 in the early 1980s. Similar to that project, GRDA’s current construction of Unit 3 (being built today in a location near the left side of this photo) will support hundreds of construction jobs on the site during 2015 and 2016.
Commissioned by GRDA, the study was prepared by the Oklahoma Department of Commerce and is actually an update of the same type of study first completed in 2012. In the years since those first numbers were released, many new projects and decisions have been made around GRDA, all with an impact on the economic bottom line. At the top of that list is GRDA’s new Unit 3 combined cycle generation plant.
Of course, while the dollars detailed in the study are important, so are the jobs, which generate dollars for Oklahomans. According to the latest numbers, GRDA’s investments, quality of life enhancements and low power costs will all combine to support 7,100 jobs in the Oklahoma economy in the 2015 – 2016 two-year span, which is the time that much of the construction work will take place on Unit 3. After the temporary job boom during construction, employment numbers are expected to taper off, though GRDA’s operations and existence are still expected to support a conservative estimate of 2,700 jobs in the state’s economy through 2020. Meanwhile, Unit 3 represents a $400 million investment in Oklahoma that will provide the low-cost, reliable power to support more and more Oklahoma jobs and industries for many years to come. In other words, this important Oklahoma economic engine is ready to keep on running.
To view the full report, visit GRDA online at grda.com.
Headquartered in Vinita, GRDA is Oklahoma’s state-owned electric utility; fully funded by revenues from electric and water sales instead of taxes. GRDA’s low-cost, reliable power touches 75 of 77 counties in the state and serves as an important economic development engine for Oklahoma. At no cost to Oklahoma taxpayers, GRDA also manages 70,000 surface acres of lakes in the state, including Grand Lake, Lake Hudson and the W.R. Holway Reservoir. Today, GRDA’s 500 employees continue to produce the same “power for progress” that has benefited the state for 75 years. The efforts of Team GRDA facilitate over $450 million in economic activity in Oklahoma annually. GRDA: The impact of the economic engine: part 2.
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