February 13 – A piece of the conversation is missing from all the talk about how to stimulate the economy. Nuclear energy investments would help restore U.S. competiveness, grow our manufacturing sector, create new American jobs and address the challenges of energy independence and climate change. It is a carbon-free alternative to meet our increasing energy demands and has been a leading creator of green jobs for more than half a century. Nuclear energy offers a multitude of opportunities for Tennessee-based manufacturers, suppliers and our well-trained workforce. 

Chattanooga will host the Nuclear Manufacturing Outreach Workshop on February 18 to bring together firms that are considering building new plants with potential suppliers of needed components, commodities and services. This workshop will allow out-of-state investors and companies considering new nuclear energy to see the benefit of growing their operations in Tennessee. 

Plans are underway to expand the fleet of 104 nuclear power plants, which employ more than 57,000 people. The U.S. Nuclear Regulatory Commission reports that 17 companies have filed applications to build 26 new plants with more on the way. According to the Nuclear Energy Institute (NEI), private investment of more than $4 billion in new power plants has already created 14,000-15,000 new jobs. And that’s just the beginning. The nuclear industry plans to invest nearly $8 billion more in the next few years in preparation for the start of new plant construction around 2011 and 2012. 

Locally, 350 new jobs are being added to the Alstom manufacturing facility in Chattanooga. The company intends to manufacture equipment for use in U.S. power generation facilities, including new nuclear plants, representing an investment in excess of $200 million. 

The Tennessee Valley Authority (TVA), as part of the NuStart consortium, is considering building two units at the Bellefonte site in Northern Alabama with peak employment as high as 2,400 jobs during construction. Once completed, these units will result in 700 permanent jobs. This is in addition to TVA’s ongoing project of completing a second reactor at the Watts Bar plant site in Spring Hill that is expected to begin operating in 2012. Currently, 30 percent of TVA’s power supply comes from its three nuclear plants, powering more than three million Tennessee Valley homes. 

Even in an economic downturn, companies need to make plans for long-term energy demand growth. The U.S. Energy Information Administration’s Annual Energy Outlook 2009 forecasts electricity demand to grow nationally by 21 percent by 2030. Electricity demand in Tennessee is expected to be on par with the national growth rate as the state is expected to add more than one million new residents in the same period, according to the U.S. Census Bureau. If these future projections are accurate, Tennessee will need every kilowatt of electricity it can get. 

Hundreds of thousands of good paying, nuclear energy jobs would result from the deployment of new energy generation. Innovative solutions are necessary to get America back to work, and nothing could do more for U.S. jobs than nuclear permits and federal loan guarantees for nuclear expansion going forward. To spur on this new development, Congress can help by: providing an investment tax credit for companies that add manufacturing capability for nuclear energy and other clean energy sources, funding a U.S. Department of Energy university program for nuclear engineers and related disciplines, adapt the nuclear production tax credit for use in partnerships with local co-ops and TVA and provide a tax credit to companies to train workers in nuclear skilled disciplines. 

We welcome the businesses participating in the Nuclear Manufacturing Outreach Workshop to our region and the bright future of nuclear energy and green jobs it will bring to the Tennessee Valley Corridor.