Florida Study - Bipartisan Policy Center

displays the TIO from the investment in the additional renewable energy facilities, while Table C.2displays the employment, and Table C.3 displays the value-added. It should be noted thatinvestment impacts are one-time impacts that occur in the year when the facilities areconstructed.Economic Activity (Total Industry Output) from InvestmentFigure 16 displays the TIO that would occur from investment in additional renewableelectricity facilities under the two policy scenarios (The 25% RES and the 20% RES) for 2015 and2025. The figure provides the overall TIO and what shares the BEA Regions would accrue.These TIO values represent total impacts (direct + indirect + induced impacts). Under bothscenarios, the Miami Region is projected to experience the greatest TIO, with the SarasotaRegion second, and the Orlando Region third. Statewide, the 2015 TIO from investment inadditional renewable facilities is $16.7 billion under either federal proposal.Employment from InvestmentThe total number of jobs involved in the renewable energy industry directly as a result ofinvestment in facilities in 2015 is just over 33,400 (Table 20). Including multiplier effects, theadditional jobs created from investment in 2015 is over 103,000. These jobs are distributedsimilarly to the projected economic activity, with Miami region adding the greatest number ofjobs. For 2025, the additional jobs are 8,237 direct and 29, 724 total. In this time frame, theOrlando region experiences the greatest additions to jobs from investment.Economic Impacts: Year-to-Year Operations of a Renewable Electricity IndustrySome economic impacts occur each year as a result of the year-to-year business activitiesof the renewable energy industry. This section presents a summary of those projections. Detailedeconomic impacts by BEA Region from the year-to-year operations of the additional renewableenergy facilities for the three policy scenarios are shown in Tables C.4-C.6. Table C.4 shows thetotal industry output from the annual operations of the additional renewable energy facilities,while Table C.5 displays the employment, and Table C.6 shows the value-added.Economic Activity (Total Industry Output) from OperatingIn addition to economic activity resulting from investment in renewable facilities, operationof the renewable energy facilities is projected to add economic activity to Florida’s economyannually. In 2025, the annual impact is $11.2 billion, if either federal proposal is adopted.Figure 10 displays the Total Industry Output that would occur from operations of the additionalrenewable energy facilities for 2015. The figure provides the overall TIO and what shares theBEA regions would accrue. These TIO values represent total impacts (direct + indirect + inducedimpacts). Under each policy scenario, the Miami Region is projected to experience the greatestTIO, with the Orlando Region second, and the Sarasota Region third.24 ___ Federal Renewable Energy Portfolio Standard Impacts on Florida