Growing Sector Shows More than 90 Advanced Energy Companies Operating in the State, Employing as Many Workers as Hotels and Motels
Little Rock, AR – October 8, 2012 – More than 11,000 Arkansans are employed in the field of advanced energy, according to a new report released by the Arkansas Advanced Energy Association (AAEA).
On the basis of a conservative assessment prepared for AAEA by the Advanced Energy Economy Institute (AEEI), the state is home to over 90 advanced energy companies across 22 advanced energy industry segments that collectively employ 11,337 Arkansans as of 2010. This number is nearly equal to current Arkansas employment in the accommodation services segment (i.e., hotels and motels) of the hospitality and leisure industry, a traditionally strong segment of the Arkansas economy. The full report can be found here.
“More than 11,000 of our fellow citizens are now working in advanced energy, making it one of the fastest growing economic sectors in Arkansas,” said Steve Patterson, Executive Director of the Arkansas Advanced Energy Association. “Arkansas enjoys advantages such as our central location, our abundant natural resources and a work force that is second to none. Advanced energy is creating strong economic value, generating tax revenue for the state and jobs for thousands of Arkansans today with promise of more in the years to come.”
The breadth of businesses comprising the advanced energy sector is impressive,” said Randy Zook, president & CEO of the Arkansas State Chamber/Associated Industries of Arkansas.
“The breadth of businesses comprising the advanced energy sector is impressive,” said Randy Zook, president & CEO of the Arkansas State Chamber/Associated Industries of Arkansas. “Many of our long-time members are finding new customers and new products to offer in this emerging part of Arkansas’s economy. As demand for reliable, competitive power increases from economic expansion, these companies will be prepared for robust growth and the profitable opportunities which stem from that growth.”
Out of the total number of advanced energy jobs in Arkansas, the largest number of jobs, nearly 2,500, is found in heating, ventilation, and air-conditioning (HVAC) and building controls – firms that improve performance of the largest drivers of energy use in buildings. The next largest number of jobs, nearly 2,100, is found in energy-saving consumer products – companies that make a wide variety of consumer products that meet higher performance standards, such as office products, computers, glass, and shades.
“When I visited Arkansas in July, I was struck by the creativity and ingenuity of the advanced energy entrepreneurs I met, and this report shows the impact they are having on the state’s economy,” said Graham Richard, CEO of Advanced Energy Economy, a national business organization, and also of AEEI. “Advanced energy is employing thousands of Arkansans in dozens of companies. We are proud to work with AAEA to document advanced energy’s contribution to the Arkansas economy.”
According to a recent survey sponsored by Advanced Energy Economy (AEE) and the Arkansas Advanced Energy Association (AAEA), Arkansans strongly support advanced energy. For example, 88 percent of Arkansans think it’s important to the state economy to manufacture advanced energy products like batteries for power storage, high-efficiency motors and equipment, and wind turbine components. The survey, conducted by JZ Analytics and John Zogby, also showed that 85 percent said it is important for the state’s political leaders to do more to further advanced energy in Arkansas.
With global energy consumption projected to rise nearly 40 percent by 2030, future prosperity depends on new ways to meet the world’s energy needs. Advanced energy – defined as energy products, technologies, and services that are affordable, clean, and secure over the long term – presents an economic opportunity for American companies and workers, which are highly competitive in the globally interconnected energy industry. The U.S. is already a significant exporter in advanced energy industries ranging from nuclear, which had U.S. exports totaling $2.32 billion in 2009, to solar photovoltaics, for which U.S. net exports hit $1.9 billion in 2010.
Arkansas Advanced Energy Association is planning two social events, in Little Rock and Fayetteville, at the end of October for members, guests and stakeholders to celebrate the strength of the state’s advanced energy sector.
Report Methodology
AEEI used a company-by-company assessment to generate employment estimates, opting not to infer employment for the wider industry through a survey-based statistical methodology used by some industry studies. AEEI used the Battelle-Brookings and Dun & Bradstreet national business dataset to refine the accuracy of 2010 workforce figures for each company. Of the 39 industry segments included in the Battelle-Brookings database, AEEI’s analysis identified 22 segments that fall within the advanced energy industry. Every job included in the count is associated with a company that provides goods or services in the advanced energy industry or a company that adds significant value to goods or services in the industry.
The 22 industry segments analyzed consist of: Appliances; Battery Technologies; Biofuels/Biomass; Electric Vehicles Technologies; Energy Saving Building Materials; Energy Saving Consumer Products; Fuel Cells; Green Architecture and Construction Services; HVAC and Building Control Systems; Lighting; Nuclear Energy; Professional Energy Services; Smart Grid; Solar Photovoltaic; Wind; Geothermal, Hydropower, Renewable Energy Services, Solar Thermal, Waste-to-Energy, Wave/Ocean Power, and Carbon Storage and Management.
The report includes examples of Arkansas companies in each advanced energy segment, such as Little Rock–based Harrison Energy Partners in the HVAC and building controls category, FutureFuel Chemical Co., in Batesville in the biofuels/biomass category, and Fayetteville’s NextGen Illumination in the lighting category.
The report includes examples of Arkansas companies in each advanced energy segment, such as Little Rock–based Harrison Energy Partners in the HVAC and building controls category, FutureFuel Chemical Co., in Batesville in the biofuels/biomass category, and Fayetteville’s NextGen Illumination in the lighting category.
As a snapshot of advanced energy employment in 2010, the report does not document the growth of advanced energy jobs over time. It also does not capture jobs added since 2010, as in energy efficiency contractors that have been expanding to help utilities meet the state’s Energy Efficiency Resource Standard, established in December 2010.
About Advanced Energy Economy and the AEE Institute
Advanced Energy Economy is a national organization representing the entire advanced energy industry. AEE’s mission is to influence public policy, foster advanced energy innovation and business growth, and provide a unified voice for a strong U.S. advanced energy industry that will drive the global transition to a smarter energy future. The AEE Institute’s mission is to raise awareness of the public benefits of advanced energy, drive the policy debate on key topics, and provide a forum where leaders can address energy challenges and opportunities facing the United States.
About the Arkansas Advanced Energy Association and the Arkansas Advanced Energy Foundation
Founded last year, the Arkansas Advanced Energy Association (AAEA) is dedicated to growing Arkansas’s economy by expanding the energy workforce and manufacturing base through the increased development, manufacture, and utilization of advanced energy technologies. AAEA includes a unique blend of manufacturers, entrepreneurs, small business owners, educators, researchers, consultants and public officials whose common interest and expertise focuses on advanced energy development and economic expansion in Arkansas. The Arkansas Advanced Energy Foundation performs research, public education and economic and workforce development in support of AAEA’s mission to create jobs and grow the advance energy sector.