A proposed power plant in Oxford, Conn. would create both an enormous number of jobs and tremendous economic benefits for the area, according to a UConn study released on Jan. 13.
The report, created by the Connecticut Center for Economic Analysis (CCEA) at UConn, estimates the construction of the power plant would create more than 2,300 construction jobs and 1,800 sustained jobs. Furthermore, the proposed CPV Towantic Energy Center would generate almost $8 billion in new personal income for Connecticut residents over the next 25 years.
The study was commissioned by Competitive Power Ventures, the Maryland company that wants to build the plant on 26 acres adjacent to Waterbury-Oxford Airport.
“This project delivers dramatic economic benefits that will reverberate throughout Connecticut’s economy, both now and for decades to come,’’ said Fred Carstensen, CCEA Director. The plant would boost Connecticut’s economic health and competitiveness, he said.
The plan has met with resistance from neighbors both in Oxford and adjacent towns, who have expressed concerns about the environment, health and decreased property values. The Federal Aviation Association has also raised concerns because of the proposed plant’s proximity to the regional airport.
Meanwhile, the proposal has won the backing of some chambers of commerce, building trade professionals and Oxford First Selectman George Temple, who said he has already received inquiries from people who are interested in creating new businesses in town if the power plant is approved. The plant would also generate more affordable electricity for Connecticut residents.
The power plant was originally proposed and approved 15 years ago, but CPV is seeking to modify the application to build a larger facility. The Connecticut Siting Council agreed to review the application. Additional public hearings are pending.
The CCEA is located within the UConn School of Business and specializes in economic impact and policy analysis studies as well as advising clients regarding business strategy, market analysis and related topics. The CCEA focuses attention on the economic and business dynamics of Connecticut. Created in 1992, the organization serves the state by providing timely and reliable information to equip the public, decision makers and stakeholders with transparent analysis to facilitate thoughtful debate of public policy issues.
