Building the Grid of the Future and Powering the Economy: Orange and Rockland Utilities Supporting Thousands of Jobs, Contributing Nearly $2 Billion Annually to Regional Economy
New Economic Impact Report by HR&A Advisors Shows Huge Impact, Including Supporting 3,400 Jobs in New York and New Jersey
Orange and Rockland Utilities, Inc. (O&R) is a powerful economic engine in the communities it serves, according to an independent study released today by the company. The economic impact study conducted by HR&A Advisors found that Orange and Rockland Utilities, Inc. contributes $1.9 billion annually to New York’s and New Jersey’s economies, while supporting more than 3,400 jobs through direct employees and additional jobs that are generated through the company’s economic activity.
“Orange and Rockland Utilities, Inc. is proud to play an important role in powering New York’s and New Jersey’s economies,” said Robert Sanchez, president and chief executive officer of Orange and Rockland Utilities, Inc. “We’re building the grid of the future to provide our New York and New Jersey customers with safe, reliable, clean energy. By hiring a diverse workforce, creating an inclusive workplace, and supporting the trades, local businesses, and women and minority business enterprises, we’re also supporting the values of the communities we serve.”
Orange and Rockland Utilities, Inc. (O&R), a wholly owned subsidiary of Consolidated Edison, Inc., one of the nation’s largest investor-owned energy companies, is a regulated utility. O&R provides electric service to approximately 310,000 customers in southeastern New York State (where its franchise name is Orange and Rockland Utilities) and northern New Jersey (where it’s Rockland Electric Company) and natural gas service to approximately 143,000 customers in New York. O&R provides energy to a region of nearly one million people with fewer electric service interruptions annually than the national average and an electric service outage restoration rate that’s twice as fast as the national average.
“Not only does O&R literally power the communities it serves in New York and New Jersey through its infrastructure, the company also generates significant economic impacts through all of its activity building, maintaining, and operating its infrastructure,” said Kate Wittels, partner HR&A Advisors, Inc.
In 2022, Orange and Rockland Utilities, Inc.’s $1.9 billion of total economic output supported 1,130 jobs at the company itself and its economic activity generated an additional 2,280 jobs in its service area.
In 2022, O&R paid $159 million in state and local taxes in New York, and $25 million in state and local taxes in New Jersey. That’s enough tax revenue to pay 2,300 public school teachers or 2,800 social workers.
Over 95% of O&R employees live in New York or New Jersey. The typical O&R employee works at the company for 14 years – more than twice the national industry average. Across O&R’s workforce, 27% of employees identify as female and 28% as people of color, both higher than the national averages. Approximately 52% of O&R’s employees are union members of IBEW Local 503. That number is 2.5 times the industry average.
Creating opportunities for small business
Orange and Rockland Utilities, Inc’s $117 million in contract spending reached companies big and small within New York and New Jersey including $34 million spent on minority – or women-owned business enterprises and small businesses.
Being a responsive corporate citizen
Orange and Rockland Utilities, Inc. ensures that low-to-moderate income (LMI) customers have equal access to energy efficiency and clean energy upgrades to save money and improve air quality. The company currently provides some of the most flexible payment terms for customers in its history and suspended fees and service disconnections when New York State and New Jersey customers have faced severe economic challenges associated with the pandemic.
Orange and Rockland Utilities, Inc. supports approximately 200 New York- and New Jersey-based non-profits with approximately $800,000 in grants in 2022 through its strategic partnership program. The company’s employees have volunteered nearly 1,000 hours in 2022, cultivating relationships with organizations throughout its service territory.
About the Economic Impact Study
The report was commissioned to better understand how Orange and Rockland Utilities, Inc. operations, policies, programs, activities, and investments impact local communities.
HR&A Advisors, Inc. (HR&A) analysis incorporated findings from a wide range of datasets and industry-standard economic impact assessment tools to evaluate the economic and fiscal impacts of Orange and Rockland Utilities, Inc. to Rockland, Orange and Sullivan counties and New York State and Bergen, Passaic and Sussex counties and the state of New Jersey in 2022.
HR&A is an employee-owned company advising visionary clients on how to increase opportunity and advance quality of life in cities. They have conducted similar economic and fiscal impact studies for a wide range of organizations – from real estate developers and municipalities to tech companies and non-profits – in cities around the country.