Illinois American Water contributing up to $245 million a year to state economy, study shows
Illinois American Water contributes many millions of dollars to the state economy, according to a partner study conducted with the University of Illinois’ Regional Economic Applications Laboratory.
The study, completed earlier this year, determined American Water’s overall economic impact at $232 million to $245 million per year, for a total economic impact in Illinois of $714 million between 2013 and 2015.
“We are proud to contribute to the economic health of Illinois and the communities we serve. American Water remains committed to Illinois, not only to the residents, businesses and fire departments we serve, but also to our dedicated employees,” said Bruce Hauk, president of Illinois American Water.
The study states American Water generates between 2,690 and 2,830 jobs per year in Illinois. Illinois is unique to the American Water footprint. It is home to multiple locations of American Water subsidiaries, including Illinois American Water, which provides regulated water and wastewater services to 128 communities. Other American Water subsidiaries operating in Illinois include the National Customer Service Center in Alton, National Laboratory in Belleville, American Water Resources, Military Services Group and Contract Services Group.
Other highlights of the study in regards to employment and taxes include:
· American Water employed an average of 1,036 people across the state of Illinois.
· American Water paid an average of $52 million in salaries and wages to its employees in Illinois.
· American Water’s activity in Illinois generated an estimated $156.7 million in state and local taxes and $132 million in federal taxes. These figures include taxes paid directly by the company and those generated from other jobs and business supported by American Water.
· In 2015, American Water directly and indirectly generated $43.5 million in state and local taxes and $44.2 million in federal taxes.
In addition, the study determined that in 2015 alone every $1 spent by American Water generated an additional 86 cents elsewhere in the Illinois economy. In addition to the job generation mentioned above, American Water’s activities in Illinois supported an additional 1,686 jobs, $107.4 million of activity and $40 million of income.
Illinois is one of the 16 states American Water operates regulated utilities.
— From the Illinois Business Journal