PRESS RELEASE: MBEF: SMR Investment Funding Could Result in a $37 Billion Impact for Missouri
JEFFERSON CITY, MO – James R. Moody, a leading policy voice in Missouri, today joined Missourians for a Balanced Energy Future (MBEF) to release a report that describes a potential $37 billion impact small modular reactors (SMRs) could have on Missouri, should our state be selected for the Department of Energy’s investment funding. According to the report, the SMR industry could also create an additional 13,000 jobs.
“Locating an SMR facility in Missouri would be good for the Missouri economy, and a long term positive for Missouri energy consumers,” stated Moody on page 3 of his report. “Locating the manufacturing facility in Missouri would attract new technology and research, and make Missouri a center for export of the product throughout the United States and the world.”
The report outlines Missouri’s competitive advantage. The unique geographic central location and access to multi-modal transportation provide the ideal environment for an SMR facility. Missouri’s well-trained workforce and state-of-the-art nuclear education programs make it capable of expanding SMRs into a manufacturing facility as well.
“This report outlines that from an economic, geographic, educational and workforce related position, Missouri is best suited to serve as a global technology and manufacturing hub for SMRs,” said MBEF Executive Director Irl L. Scissors. “Our state has the scientific credibility and nuclear safety history needed for this opportunity, especially as it relates to our skilled workforce and academic credentials. We have some of the top nuclear engineering programs in the world located here in Missouri.” “We must continue to work together to put the rest of the pieces in place to make Missouri the most attractive option. That includes continued investments in nuclear engineering programs at multiple universities, community college retraining programs, regulatory reforms and other crucial incentives. This is an opportunity that Missouri cannot afford to pass up.”
The SMR investment funding also presents an opportunity for Missouri to become a global manufacturing powerhouse for this new technology. The demand for energy continues to grow, especially in countries like China and India. According to the report, even conservative estimates state if we become a global hub for SMR technology, it could provide 50 percent of the domestic market for SMR modules and 20 percent of the international market, which would generate billions in economic investment for Missouri.
For more information about SMRs, please review the official Moody report attached here or visit MBEF’s website at www.moenergyfuture.org for links to information and insight.
