Con Edison’s $24.8 Billion Economic Footprint in New York

The company’s influence extends well beyond energy delivery, with its economic activity accounting for approximately 1 percent of New York State’s gross domestic product. For every position directly held at Con Edison, the firm’s operations supported an additional 1.8 jobs in the region. A significant portion of this workforce is comprised of union members, with the utility maintaining a unionization rate roughly three times the national industry average. This commitment to organized labor is reflected in partnerships with groups like UWUA Local 1-2 and IBEW Local 3, which provide long-term career stability for thousands of residents.

Strategic Investments and Local Impact

Beyond direct employment, Con Edison funneled $2 billion into contracts with New York businesses in 2025, with $441 million dedicated to small and diverse suppliers. This procurement strategy sustains thousands of indirect jobs, particularly within skilled construction and labor sectors. The utility also functions as a major taxpayer, contributing $4.9 billion in fees and taxes statewide. In New York City alone, the company paid $2.6 billion in property taxes, a 26 percent increase since 2021, which helps fund essential municipal services like education, emergency response, and sanitation.

To ensure a future-ready workforce, the company invested $7 million in tuition assistance during 2025, building on a corporate culture that sees an average employee tenure of 13 years. Furthermore, the firm directed $720 million toward reliability programs in disadvantaged communities and provided $247 million in bill assistance to income-eligible households. These measures, combined with ongoing clean energy initiatives, underscore a strategy focused on balancing infrastructure modernization with regional economic stability.