Uranium Enrichment Plant Predicted to Have $5 Billion Impact on E. Idaho Economy

Posted on: Monday, 19 May 2008, 03:00 CDT, to "Red Orbit"

By Shifrin, Simon

"The decision by French-owned energy firm Areva Inc. last week to build a $2 billion uranium enrichment plant near Idaho Falls will provide a huge boost to the eastern Idaho economy with an estimated $5 billion worth of direct and indirect effects over a 30-year period, local economic development officials say.

The Regional Development Alliance of Idaho Falls conducted an economic impact study that estimates $3 billion in indirect and induced benefits to the regional economy through 575 indirect jobs created to service the plant and its employees; additional sales of raw materials, equipment, maintenance and transportation; and additional housing, banking and other consumer resources.

The effects will be felt not only through the 1,000 construction jobs created to build the plant over a seven-year period and the 250 permanent employees who will earn salaries starting at $68,000 per year, but also by additional jobs and sales in a wide range of industries. The sectors expected to gain the most include wholesale trade, truck transportation, industrial process supply and the food and beverage industry, according to the study."

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