Alabama’s Electric Cooperatives Power Economic Development
A recent economic study demonstrates the significant economic impact of electric cooperatives nationally and in Alabama.
In the U.S., the study showed that electric cooperatives contributed $554 billion to the nation’s gross domestic product between 2018 and 2022, for an average of $111 billion annually.
In Alabama, over the same five-year period, generation and distribution cooperatives contributed $7.5 billion to Alabama’s Gross State Product (GSP), were responsible for an average of 9,408 jobs in the state annually, $3.8 billion in labor income, and $456 million paid in federal taxes and $911.3 million in state taxes.
The study found that Alabama’s cooperatives spent $9.3 billion on capital investment, operations and maintenance activities, and retired $95 million in capital credits paid to consumer members. Through these expenditures, cooperatives drive economic benefits throughout the state, including impacts specifically in the local communities they serve.
The economic analysis was commissioned by the National Rural Electric Cooperative Association (NRECA) and the National Rural Utilities Cooperative Finance Corporation (CFC), and conducted by Strategen Consulting, Inc.
Ivey continues stops on broadband tour
Gov. Kay Ivey has been traveling the state, discussing the importance of high-speed internet in allowing Alabama students to utilize 21st century technology, while highlighting the progress being made in broadband projects across the state.
Since 2018, Alabama has invested approximately $82 million in state dollars through grant awards supporting more than 100 projects through the Alabama Broadband Accessibility Fund. Once all ABAF projects awarded to date have been completed, access to broadband service will be available to more than 72,000 Alabama households, businesses and community institutions that currently have no option to subscribe.
Alabamians interested in learning more about what the state is doing to expand high-speed internet access are encouraged to visit the Be Linked Alabama website, a hub of internet expansion information and news. Available at broadband.alabama.gov, the site includes the Alabama Broadband Map, county profiles and dashboards and statewide broadband news.
Her visit to Troy University on Jan. 11 was the fourth stop on her tour. Previous stops have included Atmore Community Hospital on Dec. 13, Cullman EC on Dec. 4 and Oakman Middle School on Nov. 28.
Co-ops sponsor coverage of basketball championships
The Electric Cooperatives of Alabama will be among the sponsors of the TV coverage of the AHSAA Boys and Girls State Basketball Championships, which will be broadcast on Alabama Public Television.
The games will begin at 4 p.m. Thursday, Feb. 29, with the 1A girls’ and boys’ championships. Games continue Friday, March 1, with the 2A, 3A and 4A girls’ and boys’ championships beginning at 9 a.m. Games conclude Saturday, March 2, with the 5A, 6A and 7A girls’ and boys’ championships, also beginning at 9 a.m. All games will be played at the Birmingham-Jefferson Convention Complex (BJCC).