Offshore wind energy development brings numerous economic advantages to local economies. When constructed, operated, and maintained properly, offshore wind farms serve as long-term economic engines that provide widespread benefits.

Job creation is one of the biggest economic advantages of offshore wind. All phases of an offshore wind project – from development and construction to operations and maintenance – require many skilled jobs across various industries. It is estimated that one gigawatt of offshore wind capacity supports over 3,000 jobs. During construction, offshore wind farms employ engineers, electricians, crane operators, steelworkers, vessel crews, and many others. Significant port infrastructure investments are often needed to support manufacturing, assembly, and deployment of offshore wind components. These port upgrades also spur additional local jobs.

Once operational, offshore wind farms rely on specialized technical jobs to carry out maintenance and repairs. Wind turbine technicians and vessel crews are needed to access turbines offshore to perform regular checks and any needed service work. Crew transfer vessel captains and crew are in high demand. Workers are also required in onshore operations and maintenance facilities to manage logistics and coordinate service activities. Over the 25-30 year lifespan of offshore wind projects, these long-term operations and maintenance jobs provide stable employment opportunities for coastal communities.

In addition to jobs, offshore wind energy produces substantial economic output through the local spending of wages by project developers and suppliers. A large portion of the capital costs associated with developing, constructing, and servicing offshore wind farms ends up spurring additional business across many industries. Engineering firms, steel fabricators, heavy manufacturers, vessel operators, and service providers all benefit economically through work on offshore wind projects. Local businesses that provide goods and services to offshore wind workers see an increase in customers and revenues as well. Indirect and induced economic impacts ripple throughout the supply chain.

Communities that host offshore wind energy manufacturing, assembly, operations, and maintenance facilities become magnets for investment and new businesses. Suppliers are drawn to locate near major offshore wind centers to be close to customers and reduce transportation costs. Port upgrades and new energy infrastructure made valuable by offshore wind also increase land and real estate values in strategic coastal locations. Communities gain significant tax revenues over multi-decade project lifetimes from property taxes on new energy infrastructure and taxes on increased economic activity and local spending. Some states have also introduced offshore wind tax credits to support local manufacturing jobs.

Once the turbines are installed, offshore wind farms produce low-cost renewable energy for local consumers and businesses. The long-term price stability of offshore wind power helps provide energy security and protects against fossil fuel price volatility. As more markets adopt ambitious offshore wind energy targets as a means to reduce emissions and strengthen energy independence, growth will continue for many decades to come. From thousands of supply chain jobs and investments in new infrastructure to new tax revenues and affordable clean energy, offshore wind farms deliver transformative economic impacts for coastal communities. With a skilled local workforce and supportive policies and supply chain, the emerging offshore wind industry represents a huge opportunity for long-lasting economic development.

The construction and operation of offshore wind power brings job opportunities, increases in economic output, supply chain investments, real estate growth, tax revenues, and affordable electricity to coastal regions. These direct, indirect, and induced economic advantages serve as engines to diversify coastal economies and open new markets over multi-decade project lifetimes. With costs declining and targets increasing around the world, offshore wind is primed to spur huge economic development along strategic coastlines for many years to come. Communities that prepare their ports, workforce, and businesses will be best positioned to capture this growing offshore wind opportunity.