Small reactor siting decision will have $2.8 billion local impact

The decision to name the Idaho National Laboratory the preferred site for construction and operation of the NuScale Small Modular Reactor project could have a significant impact on the Idaho Falls economy.

Idaho Falls Mayor Rebecca Casper commissioned an economic analysis from the Idaho Department of Labor.

“I really have a personal conviction that this is the right thing to do. Green or carbon-free base load energy elevates the quality of life for anyone who gets to participate in it,” said Casper.

The city of Idaho Falls currently runs off of 95 percent clean energy. The proposed project gets the city closer to 100 percent.

“It’s not just a test reactor. This one will actually have kilowatts, megawatts in this case that will go into the grid. In UAMP’s case, it will help them to replace their aging coal facilities that are shutting down due to the extreme regulatory regime that is happening right now,” said Jackie Flowers, with Idaho Falls Power.

According to the study, the first construction phase of the project will cost $2.8 billion and directly support up to 1,000 jobs. Construction would create or sustain an additional 11,808 jobs in the local economy.

Labor income was expected to increase by $1.5 billion with a combined average wage of $44,937, and combined industry sales would increase by $3.8 billion over the course of the construction project.

Once complete, the project would support 360 jobs annually. It would also generate another 1,147 support jobs. Together, that would increase labor income by $98 million, with average earnings of $65,324 per job.

“There’s a lot of interest in this, not just regionally but globally, as you have developing countries that are trying to move up the economic ladder,” said Flowers.