Dive Brief:

• Dominion Energy's plan to invest in Virginia energy infrastructure projects over the next six years will create thousands of jobs and add $10.1 billion into the state’s economy, including $957 million a year in direct construction spending, according to Chmura Economics & Analytics.
• The $10.1 billion also includes $4.4 billion in additional economic activity resulting from that influx in construction spending. Between 2015-2020, the study found, the construction program will support an average of more than 11,900 jobs per year in Virginia, with approximately 6,400 of those in construction work.
• The Chmura study, commissioned by Dominion, included the following Dominion projects: two natural gas-fired power stations using energy efficient technology, solar and off-shore wind electric generation facilities, electric transmission lines, environmental projects and the proposed Strategic Underground Program — which would move overhead electric distribution lines underground to improve reliability. Also included in the study is the 564-mile Virginia portion of the proposed Atlantic Coast Pipeline.

Dive Insight:

"Our growing commonwealth requires an expanding and reliable energy infrastructure," said Paul Koonce, CEO of Dominion’s Energy Infrastructure Group and President of Dominion Virginia Power. "Our capital investment program over the next six years is designed to meet that need and achieve environmental goals related to the federal Clean Power Plan. We are very pleased that in doing so it will create a huge economic and jobs impact in Virginia."

The study was met with an understandably positive reaction from Barry DuVall, president and CEO of the Virginia Chamber of Commerce.

"Clean, affordable, reliable energy is key to supporting Virginia’s economic development needs while also meeting the growing needs of our population," he said. "This study confirms that Dominion’s planned energy infrastructure investments will also have a significant direct impact in creating jobs and attracting and retaining Virginia businesses for years to come."

This report coincides with the prediction the Clean Power Plan will be a boon for industrial construction, as the additional investment in natural gas, wind farms and solar energy is expected to create more demand for construction of new facilities.