AEC Releases Policy Brief On Economic Impacts of Offshore Wind in Connecticut

The Connecticut Roundtable On Climate And Jobs commissioned a report on the impact of offshore wind development in Connecticut from the Applied Economics Clinic. Researchers prepared a policy brief that assesses the economic impacts associated with installing and operating 2,000 megawatts (MW) of offshore wind resources in Connecticut to meet the State’s 2030 target. 

Key Findings:

AEC’s analysis finds that a concerted policy effort to develop Connecticut’s offshore wind industry would allow the addition of these offshore wind resources to create a total of 39,880 in-state job-years (i.e., one job-year is the equivalent of one person working full-time for one year) between 2024 and 2049 as well as an estimated $5,529 million in state economic output and $4,190 million in labor income. View report.