Central Hudson Gas & Electric's recent Annual Economic Impact Report reveals a substantial $2.6 billion infusion into the Hudson Valley economy. This significant contribution encompasses wages, taxes, and capital expenditures, underscoring Central Hudson's pivotal role in regional economic vitality.
The report highlights that Central Hudson's operations support a total of 5,324 jobs—1,839 direct positions within the company and an additional 3,485 indirect jobs generated through economic activities. This employment structure results in a combined payroll of $456 million, reflecting the company's commitment to job creation and economic stability in the region. Click here to view the full report: https://www.cenhud.com/en/about-us/annual-economic-impact/
Beyond employment, Central Hudson has demonstrated a strong commitment to community development. Between 2021 and 2023, the company invested $2 million in philanthropic activities, supporting arts, culture, health, wellness, and education initiatives. Additionally, $950,000 was allocated to economic development projects, including manufacturing, building revitalization, and the preparation of shovel-ready sites.
In terms of fiscal contributions, Central Hudson generated $100 million in tax revenue for local communities in 2023. This includes $59.5 million in property taxes, $19.8 million in income taxes, $8.8 million in sales taxes from capital expenditures, $7.4 million in sales taxes from employee spending, and $4.9 million from other taxes such as utility service and highway use taxes.
Central Hudson has always been a strategic partner of the Orange County Partnership, collaborating to drive economic growth in the region. This partnership focuses on enhancing power and utility infrastructure, a critical factor in attracting transformative economic development projects, including advanced manufacturing, to Orange County.
By ensuring a reliable and modern utility infrastructure, Central Hudson and the Orange County Partnership are positioning the county to compete effectively for large-scale projects. This collaboration not only fosters job creation and investment but also strengthens the overall economic resilience of Orange County.
Central Hudson's substantial economic impact and strategic partnerships underscore its vital role in the ongoing development and prosperity of the Hudson Valley region.
