Navigation Links
NREL's economic benefit to Colorado totals $814.8 million in FY 2012

The net economic benefit of the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) to Colorado's economy was $814.8 million in fiscal year 2012, according to a study by the University of Colorado's Leeds School of Business.

Jefferson County, where NREL's main campus is located and where half of NREL's employees live, enjoyed the greatest economic impact, with $274.6 million. NREL is one of Jefferson County's largest employers, the study says.

NREL's economic impact in Colorado fell 2.4 percent from FY 2011, reflecting fewer dollars spent renting office buildings as NREL consolidated operations on its main campus; fewer dollars spent on subcontracts and employees; and a small decline in expenditures. Still, NREL's total economic impact to Colorado in FY 2012 is 38.5 percent higher than the $588.3 million impact in FY 2009. The laboratory supported approximately 2,300 jobs in 2012.

Construction expenditures at the NREL campus in FY 2012 increased 7.4 percent from FY 2011, totaling $113 million. NREL completed construction work on the last phase of its Research Support Facility, which houses more than 1,300 employees and is one of the world's most energy efficient large office buildings, demonstrating the capability to produce as much energy as it uses on an annual basis. In FY 2012, NREL also completed an 1,800-car-capacity parking garage, with solar panels on the roof; and the Energy Systems Integration Facility, where utilities and other companies test the effect of increased renewable energy on the electric grid.

In 2013, the Laboratory will conclude a multi-year expansion of the South Table Mountain campus, which will provide new research capabilities needed to help meet the nation's clean energy challenges.

According to the study, operating and capital expenditures showed a small decline in FY 2012 by 1.6 percent to $405.5 million, compared to FY 2011. Of the $63.7 million in operating expenditures excluding salaries, benefits, construction, rents and other categories in FY 2012, about 90 percent remained within the state of Colorado, and 30 percent remained in Jefferson County.

For Jefferson County, the $274.6 million economic impact from NREL down 4.9 percent from 2011 was derived from operations, employment, one-time expenditures on construction, and spending by visitors.

Total salary compensation for NREL's employees was $192.7 million, down 3.1% from the year before. Of the staff, 68% were involved in core research and development occupations such as engineers, scientists, analysts, postdoctoral researchers, and IT professionals. Thirty-two percent were employed in business support operations in such areas as human resources, budgeting, administration, communications and legal.

The Alliance for Sustainable Energy, LLC, which manages and operates NREL for the U.S. Department of Energy, asked the Business Research Division of the Leeds School of Business at CU to measure objectively the economic and fiscal impacts of the lab for FY 2012. The study is online at

The study's authors looked at several factors: economic benefits, public costs, capital expenditures, operating expenditures, and secondary or multiplier effects in coming up with the final economic impact number. Among the findings:

NREL had approximately 13,730 visitors in FY 2012. The 2,400 overnight visitors stayed an average of 1.9 nights and each spent an average of more than $400, a boost of almost $1 million to the local accommodations and food-service industry. More than 1,900 people attended NREL forums in FY 2012, and more than 1,000 attended NREL workshops. In addition, in FY 2012, NREL sponsored 20 events of the World Renewable Energy Forum, which brought thousands of scientists from around the world to Denver from May 12 to 17. The NREL-sponsored Industrial Growth Forum drew 425 clean-tech entrepreneurs and venture capitalists to Denver. Since 2003, attendees at NREL's annual Industrial Growth Forum have raised more than $4 billion in financing. NREL also hosted four school-oriented events including the Science Bowl for high-school students and the Junior Solar Sprint, Hydrogen Fuel Cell, and Lithium Ion Battery car competitions, attended by 390 middle-school students.

The presence of a national laboratory in Colorado and Jefferson County stands for more than just the economic impact from the jobs on the campus. It enriches the education of the students who visit the campus and enhances educational opportunities at schools in the area. While the CU study presents important measures of economic impact, it does not capture the downstream benefits such as technology transfer, commercialization, the creation of new businesses and the spark to imaginations of students who want to work toward a cleaner energy future.

Contact: David Glickson
DOE/National Renewable Energy Laboratory

Related biology news :

1. New whole plant therapy shows promise as an effective and economical treatment for malaria
2. New health-economic model shows benefits of boosting dietary calcium intake
3. Texas Biomed reports faster, more economical method for detecting bioterror threats
4. Global economic pressures trickle down to local landscape change, altering disease risk
5. Molecular economics: New computer models calculate systems-wide costs of gene expression
6. Study shows economic feasibility for capturing carbon dioxide directly from the air
7. An economical, effective and biocompatible gene therapy strategy promotes cardiac repair
8. Scientific meeting at Virginia Tech will make more than $2 million economic impact
9. Socioeconomics may affect toddlers exposure to flame retardants
10. New evidence that many genes of small effect influence economic decisions and political attitudes
11. Polluting China for the sake of economic growth
Post Your Comments:
(Date:6/27/2016)... Research and Markets has announced the addition ... to their offering. The report ... to grow at a CAGR of 12.28% during the period 2016-2020. ... in-depth market analysis with inputs from industry experts. The report covers ... The report also includes a discussion of the key vendors operating ...
(Date:6/22/2016)... -- The American College of Medical Genetics and Genomics was once ... one of the fastest-growing trade shows during the Fastest 50 ... Las Vegas . Winners ... each of the following categories: net square feet of paid ... The 2015 ACMG Annual Meeting was ranked 23 out of ...
(Date:6/22/2016)... , June 22, 2016   Acuant ... and verification solutions, has partnered with RightCrowd ... solutions for Visitor Management, Self-Service Kiosks and ... products that add functional enhancements to existing ... corporations and venues with an automated ID ...
Breaking Biology News(10 mins):
(Date:6/27/2016)... , June 27, 2016  Alex,s Lemonade Stand ... that that it will open a state-of-the-art bioinformatics lab, ... cancer research. This announcement comes as Liz Scott ... the National Cancer Moonshot Summit in Washington, ... Biden as a participant and advocate of pediatric cancer ...
(Date:6/27/2016)... 2016  Global demand for enzymes is forecast ... to $7.2 billion.  This market includes enzymes used ... biofuel production, animal feed, and other markets) and ... Food and beverages will remain the largest market ... of products containing enzymes in developing regions.  These ...
(Date:6/27/2016)... 2016 /PRNewswire/ - BIOREM Inc. (TSX-V: BRM) ("Biorem" or "the ... major shareholders, Clean Technology Fund I, LP and Clean ... based venture capital funds which together hold approximately ... fully diluted, as converted basis), that they have entered ... equity holdings in Biorem to TUS Holdings Co. Ltd. ...
(Date:6/27/2016)... , June 27, 2016  Sequenom, Inc. (NASDAQ: ... enabling healthier lives through the development of innovative products ... the United States denied its ... the claims of Sequenom,s U.S. Patent No. 6,258,540 (",540 ... criteria established by the Supreme Court,s Mayo Collaborative Services ...
Breaking Biology Technology: