Hartford Business Journal
March 17, 2016
The Northeast region hydrogen and fuel cell industry experienced significant growth over the last four years based on several factors such as employment, revenue and investment, labor income, and state and local tax revenue.
In 2015, the hydrogen and fuel cell supply chain contributed nearly $1.4 billion in revenue and investment, more than 6,550 direct, indirect and induced jobs, and labor income of approximately $620 million, according to a study by The Northeast Electrochemical Energy Storage Cluster, administered by the Connecticut Center for Advanced Technology Inc.
The study also reported that 2015 state and local tax revenues stemming from the Northeast region’s hydrogen and fuel cell industry were in excess of $83 million.
Currently, more than 600 Connecticut companies are part of the Northeast supply chain. According to the study, Connecticut’s hydrogen and fuel cell sector realized $726 million in revenue and investment, generated 3,400 direct, indirect and induced jobs plus more than $340 million in labor income, and contributed more than $39 million in state and local tax revenues in 2015. For full article.