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Powering New York's Economy: Con Edison's Remarkable Contribution in 2025

In a groundbreaking report detailing the economic impact of Con Edison, it was revealed that the company produced a staggering $24.8 billion in total economic output across New York State in 2025. This achievement came with the creation and support of 39,700 jobs, playing a crucial role in the state's economy. The report was prepared in collaboration with HRA Advisors and serves as a testament to the significant influence of Con Edison on local communities and their economic growth.

A Commitment to Community and Growth

Matthew Ketschke, the president of Con Edison, emphasized the company's deep-rooted connection to the communities it serves. Ketschke stated, "Every day, our investments drive economic growth across New York, creating family-sustaining jobs, supporting local businesses, enhancing energy reliability, and expanding access to clean energy." His words underscore the essential role Con Edison plays not only in energy provision but in driving a cleaner, more sustainable future for its customers.

Fostering High-Quality Union Jobs

A notable highlight from the report is that Con Edison supported over 14,000 company employees in 2025, with a majority being union members—more than three times the industry average. Frank Morales, the president of Utility Workers of America Local 1-2, expressed pride in the role of union jobs in delivering reliable energy to millions, stating, "These life-changing jobs strengthen our local communities and support economic growth." The emphasis on union membership showcases Con Edison's dedication to fostering stable and secure employment relationships.

Economic Contracts Driving Growth

In an impressive display of its commitment to local businesses, Con Edison allocated $2 billion for contracts with New York State vendors, with approximately $1.2 billion going to companies within New York City and Westchester County. This funding supports over 8,800 indirect jobs, demonstrating how Con Edison's investments ripple through the local economy. Union carpenters, laborers, and skilled professionals benefit directly from these contracts, affirming the indispensable role of organized labor in the company's operations.

Supportive Contributions to Workforce Development

Con Edison's commitment to workforce development extends further than mere job creation. The report notes that 80% of its employees reside within New York State, with more than 40% having received their education from City University of New York or State University of New York. The company invested approximately $7 million into tuition assistance, leadership programs, and career advancement opportunities in 2025. Such efforts contribute to a median employee tenure of 13 years, significantly surpassing the national average for utility companies.

Community Investment and Clean Energy Initiatives

In a bid to further enhance communities, Con Edison invested about $720 million in clean energy and reliability programs specifically benefiting disadvantaged communities. Additionally, it provided $247 million in bill assistance to around 420,000 income-eligible households and $41 million toward energy-efficiency incentives for low- and moderate-income customers. This commitment to reducing energy costs and improving access to clean energy reflects the company's aim to elevate the living standards of the communities it serves.

A Stable Tax Base for Continued Growth

Moreover, in 2025, Con Edison contributed a staggering $4.9 billion in taxes and fees collected from customers throughout New York State. These funds, particularly the $2.6 billion from property taxes in New York City, support essential municipal services like education, public safety, and sanitation, showcasing how Con Edison's business operations bolster state revenue.

Looking Forward: A Sustainable Future

As Con Edison navigates the complexities of the modern economy, Ketschke has hinted at emphasizing reliable energy as a foundational element of a strong economy. The company's commitment to investing in infrastructure and partnerships aims to ensure that New York flourishes while fostering a clean and resilient energy system.

In conclusion, Con Edison stands not just as a utility provider; it emerges as a vital contributor to the economic, social, and environmental fabric of New York. With continued investment and dedication to community and employee welfare, the outlook for New York's economy remains promising.