Access Energy Adds $16.7 Million To Local Economy
Access Energy Cooperative made a significant economic impact to southeast Iowa contributing $16.7 million to our local economies. A recently completed study shows during one year, Access Energy invested $423,000 in power generation and distribution capacity in 2003, leveraged in loans and grants into a $554,000 impact on our communities and returned over $500,000 in patronage to our members.
The findings are the outcome of a study of the economic impact Iowa's electric cooperatives, including Access Energy Cooperative, have on community and business development programs, charitable donations, community investments and volunteer activities.
"Contributing to the growth and development of the communities we serve is a part of our core business structure," said Robert Swindell, CEO/General Manager. "When it comes to looking at organizations that are leading the economic future of Iowa - in all counties, not just the metro areas -electric cooperatives should immediately come to mind."
Access Energy Cooperative invested money back into our communities, contributing over $148,000 to support local business and community development programs. In addition to adding over $16.7 million in economic output to our communities, Access Energy affected the employment of 112 residents and increased the local income of our communities by $3.9 million.
Access Energy delivered service to about 9000 households or businesses, or just about 21,000 residents in our service area. In addition to delivering reliable, low-cost utility service, we provided substantial civic and economic development benefits to our communities. For each resident, we returned an average of $7.02 in community, educations, housing and development activities. We also provided an average of $26.24 per resident in community and businesses investments and $759 in purchases from local businesses.
All together, we directly or indirectly added $792 to the economy of our communities for each of our resident members.
The survey was conducted by the Iowa Association of Electric Cooperatives in partnership with Strategic Economics Group, based in Des Moines.