Report: NREL’s economic impact to Colorado economy tops $700M in fiscal year 2014

By: InnovatioNews Friday June 5, 2015 0 comments Tags: Golden, NREL, Dan Arvizu, Richard Wobbekind, Brian Lewandowski, Alliance for Sustain, CU Leeds School of B

 

GOLDEN -- The economic impact of the U.S. Energy Department’s National Renewable Energy Laboratory  (NREL) in fiscal year 2014 was $872.3 million, according to a study by the University of Colorado-Boulder’s Leeds School of Business.NREL_logoUSE_2

The study estimates NREL’s direct impact on Colorado’s economy totaled $701 million, a slight decline of 1.6 percent from the prior year. NREL said the decrease was largely attributed to a decline in major construction spending as NREL completed its build-out of its campus.

Jefferson County, where the largest concentration of NREL employees is located, had a $275 million economic impact. NREL is among the county’s 10 biggest employers.

The study was conducted by Richard Wobbekind and Brian Lewandowski of the Business Research Division of the Leeds School of Business.

The study was funded by Alliance for Sustainable Energy LLC, the private company that manages and operates NREL on behalf of the U.S. DOE.

“This report shows how important NREL has become in taking our ongoing research into clean energy and making it available for the marketplace so that everyone can benefit,” said Dan Arvizu, NREL’s director and president of the Alliance for Sustainable Energy.

“The completion of the NREL campus build-out plan gives our scientists better tools to do even more collaborative work with established companies and startups on new energy technologies.”

During 2014, NREL employed 1,730 full-time and 105 part-time employees, the study showed. 

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