Entergy Arkansas Contributes $857 Million To Arkansas Economy

Entergy Arkansas’ total economic impact on the state reaches almost $1 billion, according to a study released by the state’s largest utility.

IHS Economics and Country Risk conducted the study at Entergy Arkansas’ request. Key takeaways from the report included:

• Entergy’s activities contributed $857 million to Arkansas’ Gross State
  Product during 2013;
• Every $1 Entergy spends with local businesses stimulates an additional $2 of sales in the state; and
• For every 10 Entergy jobs, another 13 are supported in the state. Those jobs
  are 26% above the national wage average and 62% above the state average.

“Entergy’s top priority is providing safe, reliable and low-cost electricity for our customers,” said Hugh McDonald, Entergy Arkansas president and CEO. “Our rates are 25 percent below the national average and 15 percent below the regional average. Lower rates not only allow our customers to have more available income for other necessities like food and gasoline, but they also give Arkansas an advantage in competing for economic development projects.”

In fiscal year 2014, Entergy Arkansas’ business activities supported over 6,100 jobs, with a workforce of direct employees or contractors close to 2,700. The remaining 3,400 were indirect and induced jobs, the report said.

“Entergy spent $127 million with Arkansas-based suppliers in 2014. Sales in the extended supply chain plus sales stimulated by our employees’ own local spending stimulated $383 million in sales in the state,” said McDonald.

The study also showed that jobs supported by Entergy in Arkansas carried an average wage of $65,500. The main driver behind higher wages was the highly-skilled jobs required for Entergy Arkansas’ direct operations, an official with the firm which completed the study said.

The study can be found be visiting this link.