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Economic Impact Report

Powering New York City and Westchester with the nation’s most reliable energy isn’t just our job, it’s our commitment to the 9.5 million people and more than 340,000 businesses we proudly serve. In partnership with HR&A Advisors, we’re excited to share the meaningful ways our work is benefiting the local communities we also call home.

Energizing the Economy

We power the heart of the New York metro economy, generating thousands of jobs and billions of dollars in economic activity and fiscal impact.  

 

Con Edison's total economic output is twenty-two point six billion dollars, which creates thirty-eight point six thousand jobs and gives one point eight billion dollars in contracts to New York State businesses.
For every one Con Edison employee, our economic activity supports another 1.8 jobs in New York state.

We spent nearly $2 billion in 2025 on contracts with New York State and New York City businesses, roughly split between the state and city, including $1.2 billion with businesses in all five boroughs and Westchester County.

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Tax Contributions

We generate a significant share of the total tax revenues for New York City and New York State. In 2025, we contributed $4.9 billion in taxes and fees in New York State, including $3.6 billion in New York City alone.

Con Edison customers collectively fund the largest share of property taxes paid in New York City. Of the $3.6 billion Con Edison pays annually in New York City taxes, $2.6 billion goes to property taxes. That represents 8% of all property taxes collected by New York City.

Although these revenues support city services, the costs are recovered through customer energy bills rather than income-based taxes. That means all customers pay toward them regardless of income level, making this a regressive form of taxation that can disproportionately affect lower-income New Yorkers.

Property taxes on energy infrastructure have increased 26% since 2021 and are becoming a major driver of higher energy costs for customers. We are working with policymakers and stakeholders to ensure this local property tax revenue is used to reduce customer bills and keep energy affordable.

 

Creating and Sustaining Jobs

Con Edison is powered by New Yorkers, and we work to provide quality, family-sustaining jobs for our workforce.

Over 80% of Con Edison employees live in New York State, including more than 50% who live in New York City or Westchester.

Our more than 14,000 employees are highly skilled, trained, and experienced. More than half are union members. We're one of the largest engines of good union jobs in the state.
More than 40% of our employees graduated from a City University of New York or State University of New York school.

As a sign of employee satisfaction, employees tend to stay at Con Edison eight years longer than the energy industry average, advancing their careers through internal promotions.

Con Edison employees have a thirteen-year median tenure on average, compared to six years at other utility companies and four years in all other industries.

Support for Low-and Moderate-Income New Yorkers

Con Edison helps New Yorkers with low to moderate incomes access good-paying jobs, pay their energy bills, and benefit from energy-efficient homes.

In 2025, the company: 

  • Directed $41 million to help low- and moderate-income customers reduce their energy use and improve energy efficiency
  • Provided $247 million to reduce the bills of 420,000 low-income customers 
  • Helped thousands of New Yorkers develop new skills and gain greater career opportunities through workforce development programs we sponsor
  • Invested $720 million in clean energy and electric-infrastructure improvements benefiting disadvantaged communities (DACs)

Helping All New Yorkers Thrive 

Our vital role in growing and energizing the economy of New York and improving the quality of life for all New Yorkers continues to expand every year. For years to come, we plan to continue to:

  • Strategically and equitably invest to strengthen our energy systems, enhance reliability, and expand clean energy programs
  • Create and sustain thousands of family-sustaining local jobs through Con Edison employment and our economic impact
  • Generate billions of dollars in New York tax revenue, both city and state
  • Invest millions of dollars to grow local businesses and support the most vulnerable New Yorkers

 

Learn more about our investment plan