New York – September 30, 2026 -- Con Edison generated $24.8 billion in total economic output and supported 39,700 jobs across New York State in 2025, according to a new economic impact report developed with HR&A Advisors. The utility serves 9.5 million people and more than 340,000 businesses across New York City and Westchester County.
Con Edison's operations supported nearly 40,000 jobs statewide in 2025
The company directly employed more than 14,000 workers, with each Con Edison job supporting an additional 1.8 jobs across New York State. More than half of Con Edison's employees are union members, a rate approximately three times the industry average. The company's 2025 economic activity represented approximately 1 percent of New York State's gross domestic product.
Contract spending reached $2 billion with New York State businesses
Con Edison spent $2 billion on contracts with New York State businesses in 2025, including roughly $1.2 billion within New York City and Westchester County. About $441 million of that spending, spread across 262 contracts, supported diverse and small businesses, representing half of all vendor contracts in the state. Indirect job support from this spending exceeded 8,800 positions.
Union leaders cite $16.2 billion in direct state spending
Thomas A. Callahan, business manager of International Union of Operating Engineers Local 15, said Con Edison's $16.2 billion in direct spending across New York State supports thousands of skilled union jobs. Paul Capurso, executive secretary treasurer of the NYC District Council of Carpenters, credited the company's investments with putting union carpenters to work across the five boroughs and Westchester.
Tuition assistance and workforce programs totaled $7 million
Eighty percent of Con Edison employees live in New York State, and more than 40 percent hold degrees from a CUNY or SUNY school. The company invested approximately $7 million in tuition assistance in 2025, contributing to a median employee tenure of 13 years, eight years above the national utilities average. Since 2020, more than 1,000 participants have graduated from the company's Clean Energy Academy, with a 2025 grant program expected to support training for roughly 1,800 additional New Yorkers.
Con Edison directed $720 million toward clean energy in disadvantaged communities
The company invested approximately $720 million in clean energy and reliability programs benefiting disadvantaged communities in 2025. It also provided $247 million in bill assistance to approximately 420,000 income-eligible households and delivered $41 million in energy-efficiency incentives for low- and moderate-income customers.
Tax collections reached $4.9 billion statewide, including $3.6 billion in New York City
Con Edison collected $4.9 billion in taxes and fees from customers across New York State in 2025, including $3.6 billion in New York City. Of the city total, $2.6 billion went to property taxes, a 26 percent increase since 2021, accounting for approximately 8 percent of all property taxes collected by New York City. New York City pension funds, representing more than 785,000 current and former city employees, also benefit from Con Edison stock through dividends and value appreciation.