While politicians consider whether the Palisades Nuclear Plant can be safely and economically reopened, studies continue on the economic impact of the plant’s 2022 shutdown and on-going decommissioning. The latest report on that is due next week, as detailed in this update from Market Van Buren, the county’s economic development agency:
On Monday, August 28 at 1 p.m., the Palisades Economic Recovery Team will present the final draft of the Economic Assessment of the Palisades Nuclear Power Plant Closure via a Zoom meeting to interested members and the public. The report details likely economic impacts of the plant closure and potential strategies for mitigating associated adverse economic impacts.
The final report is the culmination of an extensive research process led by the Economic Growth Institute and supported by the Southwest Michigan Planning Commission, Kinexus Group, Michigan Works! Berrien, Cass, Van Buren, and Market Van Buren, as well as several previous public meetings to review drafts of the report and solicit public input.
“The Economic Assessment of the Palisades Nuclear Power Plant Closure was developed through empirical research and qualitative community input. By blending data-driven models with observations from local organizations and residents, we have developed a comprehensive story that outlines the impact of the Palisades Plant’s closure,” said Carmen Wells Quigg, Senior Project Manager at the Economic Growth Institute at the University of Michigan.
While many communities impacted by major plant closures have conducted similar impact assessments, the Palisades Economic Recovery Team’s approach to utilizing the impact assessment data Is said to be unique.
“There is significant state and national attention to the work we are doing, as our efforts do not end with simply quantifying the closure impact. Instead, we are leveraging this assessment to develop an aligned strategic plan and implement that plan,” said John Egelhaaf, Executive Director of the Southwest Michigan Planning Commission.
While the possibility of the Palisades Plant repowering exists, the Palisades Economic Recovery Team’s work remains relevant.
“Even if Palisades does repower, we need to plan for its eventual shutdown whether that is now or in the decades to come,” said Zach Morris, Executive Director for Market Van Buren. “Our region will experience a post-Palisades economy at some point, and the Recovery Initiative Team’s work helps to ensure that the economy is as resilient as possible when it faces that eventuality.”
A copy of the final report and details on how to attend the virtual meeting will be made available on Van Buren County’s website at https://www.vanburencountymi.gov/739/Economic-Recovery-Strategy.
