Texas economy

Xcel Energy’s Local Spending Supports Region’s Economy | KLBK | KAMC

The FHere is a press release from Xcel Energy:

AMARILLO, Texas (PRESS RELEASE) – Xcel Energy not only powers the regional economy with clean, reliable electricity, but also supports local jobs and economic development through hundreds of millions of dollars spent with Texas businesses and from New Mexico.

In 2021, Xcel Energy purchased nearly $745 million worth of goods and services from businesses in Texas and New Mexico, giving a boost to local economies rebounding from the effects of the pandemic. This amount represents a significant increase over the amount spent with regional businesses in 2020.

“Local businesses are essential to the work we do every day, and the dollars we inject into the economy through trade with businesses, large and small, in our communities support many local jobs, both indoors and outdoors. ‘outside of our business,’ said Adrian J. Rodriguez, president, Xcel Energy – New Mexico, Texas. “We couldn’t do this without the help of these important trading partners.”

Communities in the region also benefit from the property tax revenues generated by Xcel Energy’s network of electrical installations throughout the region. In 2021, Xcel Energy paid $62 million in property taxes to local governments in the Panhandle and Southern Plains region of Texas and in eastern and southeastern New Mexico. Additionally, Xcel Energy paid $22.3 million in franchise fees to municipal and county governments, providing a reliable revenue stream to fund essential services in the region.

Xcel Energy also benefits the communities it serves through continued support of economic development efforts. The company works closely with local governments, area economic development organizations and chambers of commerce to support the retention of existing businesses and the attraction of new jobs to the area. In 2021, the company was involved in development projects totaling $90 million in capital investments. Xcel Energy also provides an online inventory of the region’s most marketable industrial sites and buildings at economicdevelopment.xcelenergy.com. Site consultants use this inventory to find information on business and industrial parks in the region, including data on energy capacity and infrastructure, access to transportation and communication networks, and other designed criteria. to accelerate time to market.

“It’s important to us personally and as employees of the region’s leading energy company that the communities we serve prosper economically,” Rodriguez said. “Our team’s roots run deep here, and we will be here for many years to come.

Xcel Energy operates in 96 cities and towns 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 southwestern Kansas through the Texas Panhandle and the southern plains to southeastern New Mexico.

The company employs 1,455 full-time people 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. Based in Minneapolis, the company is an industry leader in responsible carbon emissions reduction and the generation and delivery of 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.

(Xcel Energy press release)