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Entergy Mississippi Inc.
Entergy Mississippi Inc.
10/23/2012 | Press release
Entergy's Impact in Mississippi Estimated at Nearly $1 Billion
distributed by noodls on 10/23/2012 16:12
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October 23, 2012 For Immediate Release |
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Company's activities help strengthen communities, create jobs and boost the economy
JACKSON, Miss. - Research of Entergy's activities in Mississippi paints a picture of an investor-owned utility that not only lights up the homes and businesses of more than 400,000 Mississippians, but also lights up the entire state economy.
Entergy's total economic impact in Mississippi reaches almost $1 billion, and the low-cost electricity it provides for customers helps encourage business growth and job creation.
"Entergy's first priority is providing safe, reliable and low-cost electricity for our customers," said Haley Fisackerly, Entergy Mississippi president and CEO. "Our residential rates are 29 percent below the national average and 18 percent below the state average. Lower rates not only allow our customers to have more available income for other necessities like food and gasoline, but they also give Mississippi an advantage in competing for economic development projects."
Entergy is one of Mississippi's largest taxpayers, paying more than $100 million in state and local taxes, as well as one of the largest private employers, with a workforce of 2,000 and an annual payroll of $228 million.
Over the last five years, Entergy's construction projects in the state - building customer service centers, upgrading distribution and transmission equipment and renovating facilities - have yielded more than $972 million in economic impact. Entergy's many activities in Mississippi helped create an additional 4,000 indirect jobs, further boosting payrolls and tax revenues.
"Each dollar spent by Entergy ripples through the state economy, triggering employment, new income, production and spending in virtually every industry sector," said Michael D. Larsen, president of Global Strategies, Inc., a Mississippi-based economic development and organizational consulting firm.
At Entergy's request, Global Strategies, Inc. quantified the statewide economic impact of the utility's operations in Mississippi. Financial and operations data for the 2010 fiscal year formed the primary-source information for the analysis.
Jackson serves as the national headquarters for Entergy's nuclear energy and transmission operations, which has helped build the metro area into a hub for engineering talent from across the country.
Entergy Mississippi also actively supports and invests in community-based organizations, charities, events and activities. In 2010, Entergy's $2 million in philanthropy and community investments in Mississippi created 60 jobs and made an economic impact of $4 million.
"Entergy can always be counted on to provide leadership and resources that help build stronger communities," said Blake Wilson, president of the Mississippi Economic Council. "Over the years, Entergy's support has been a significant factor in statewide efforts to improve education, economic development and quality-of-life issues that are crucial to Mississippi's future."
Entergy Mississippi has invested nearly $150 million in upgrades to its distribution and transmission system over the last five years. An extensive power upgrade completed this year at its Grand Gulf Nuclear Station in Port Gibson made the facility the largest single-unit nuclear reactor in the country and a long-term source of safe, reliable and emission-free energy for Mississippians.
Entergy Mississippi, Inc. provides electricity to more than 435,000 customers in 45 counties. It is a subsidiary of Entergy Corporation. Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, and it is the second-largest nuclear generator in the United States. Entergy delivers electricity to 2.7 million utility customers in Arkansas, Louisiana, Mississippi and Texas.
