The economic impact of Illinois’ energy industry is three times that of the automotive industry, and pay in those jobs are 50 percent higher than the state’s average, according to a study released this week.
The study — conducted by the Regional Development Institute at Northern Illinois University and commissioned by the Illinois Chamber of Commerce — analyzed the economic impact of energy extraction, production and transmission, job creation, wages and tax revenue in the state.
Highlights of the findings include:
-The energy industry employs more than 50,000 full- and part-time workers and indirectly supports an additional 100,000 jobs.
-The energy industry creates $80 billion in direct economic output, or about three times that of the automotive industry.
-About 1.9 percent of the state workforce is employed by the energy sector, and average compensation is 50 percent higher than the state’s average.
-The energy industry generates $2.9 billion in federal taxes annually and $2.3 billion to state and local governments.
-About 249 additional jobs are added to the state for every 100 employees added to the energy industry.