The following is a press release from Xcel Energy:
AMARILLO, Texas (PRESS RELEASE) – Xcel Energy not only provides clean, reliable power to the local economy, but also supports local jobs and economic development through hundreds of millions of dollars spent on behalf of businesses in Texas and New Mexico.
In 2021, Xcel Energy acquired nearly $745 million worth of goods and services from companies in Texas and New Mexico, giving a boost to the local economy recovering from the effects of the pandemic. This amount was a significant increase over what was spent on regional businesses in 2020.
“Local businesses are critical to our day-to-day operations, and the dollars we pump into the economy by trading with companies large and small in our communities support many local jobs, both inside and outside of our company,” said Adrian J. Rodriguez, President, Xcel Energy – New Mexico, Texas. “We couldn’t do it without the help of these important business partners.”
Area communities also benefit from the property tax revenue generated by Xcel Energy’s network of electrical facilities throughout the region. In 2021, Xcel Energy paid $62 million in property taxes to local governments in the Panhandle and South Plains region of Texas and eastern and southeastern New Mexico. In addition, Xcel Energy paid $22.3 million in franchise fees to local and county governments, providing a reliable revenue stream to fund essential services across the region.
Xcel Energy also benefits the communities it serves by continually supporting economic development efforts. The company works closely with local governments, regional economic development organizations and chambers of commerce to help sustain existing businesses and attract new jobs to the region. In 2021, the company was involved in development projects with a total capital investment of US$90 million. Xcel Energy also provides an online inventory of the region’s most marketable industrial sites and buildings at Economic development.xcelenergy.com. Site consultants use this inventory to find information about business and industrial parks in the area, including data on power capacity and infrastructure, access to transportation and communications networks, and other criteria aimed at speeding time to market.
“For us personally, and as employees of the region’s leading energy company, it is important that the communities we serve prosper economically,” said Rodriguez. “The roots of our team are deep here and we will be here for many years to come.”
Xcel Energy operates in 96 cities in a 52,000 square mile service area that includes the Panhandle and South Plains regions of Texas and much of eastern New Mexico. The Company’s high-voltage transmission network extends from southwest Kansas through the Texas Panhandle and South Plains to southeast New Mexico.
The company employs 1,455 full-time employees in Texas and 256 in New Mexico.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses in eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and manufacturing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information visit xcelenergy.com or follow us on Twitter and Facebook.
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(Press release from Xcel Energy)
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