America’s Electroindustry Supports 2.35 Million Jobs and More Than $375 Billion for U.S. Economy
The U.S. electroindustry is playing an increasingly critical role in meeting rising electricity demand, strengthening the domestic industrial base, and powering America’s future, according to new analysis from the National Electrical Manufacturers Association (NEMA). The new economic impact data show the U.S. electrical manufacturing industry, which has invested more than $200 billion in domestic production since 2018, supports 2.35 million American jobs, contributes more than $375 billion to U.S. economy annually, representing 1% of total U.S. GDP. The analysis also finds that the electroindustry directly employs more than 590,000 workers nationwide who manufacture the technologies that power and protect America’s homes, businesses, factories, hospitals, data centers, transportation systems, and the electric grid. Each direct job supports an additional three jobs elsewhere in the economy. With electricity demand expected to rise significantly in coming decades, continued investment in electrical equipment and systems will be critical to expanding energy capacity, strengthening grid reliability, and supporting long-term economic growth. America’s Electroindustry Supports 2.35 Million Jobs and More Than $375 Billion for U.S. Economy – NEMA
Submerged in about 40 meters (44 yards) of water off Scotland’s coast, a turbine has been spinning for more than six years to harness the power of ocean tides for electricity — a durability mark that demonstrates the technology’s commercial viability. Keeping a large, or grid-scale, turbine in place in the harsh sea environment that long is a record that helps pave the way for bigger tidal energy farms and makes it far more appealing to investors, according to the trade association Ocean Energy Europe. Tidal energy projects would be prohibitively expensive if the turbines had to be taken out of the water for maintenance every couple of years. Tidal energy technologies are still in the early days of their commercial development, but their 