Study Gives CPS Energy High Marks For Job Creation, Growing Local Economy
CPS Energy’s New Energy Economy is earning praise for fueling dramatic increases in local job growth.
An economic impact study found the energy company’s contributions are “unique” in the industry.
The San Antonio Economic Development Foundation commissioned the study by St. Mary’s University Economist Dr. Steve Nivin, who specializes in industry impact research around the San Antonio area.
He found that CPS Energy's new efforts have brought in $622 million in its first three years of development.
"The partnerships that they're developing with all these companies is unique," Nivin said.
Nivin said he knows of no other utility that has pursued a business plan to convince energy suppliers to create jobs in the community where they sell their products.
"They ask the companies to become a part of the local economy -- to open operations here, to bring their employees. And not only have they been successful in having companies do that, but a couple of the companies have since moved their headquarters here," Nivin said. "So it's really started to blossom in a pretty short period of time."
Since CPS Energy launched its New Energy Economy plan in 2011, several companies have begun, or are starting, operations in San Antonio including: Sun Edison, OCI Solar, Mission Solar Energy, Greenstar, Consert, and KACO.
CPS Energy said the goals of its New Energy Economy include achieving 20% of generation capacity from renewable energy sources with low- or no-carbon emitting power plants by the year 2020, and reducing emissions by an amount equivalent to taking 1.5 million cars off the road.