On August 4, 2020, Wood Mackenzie (WoodMac), global energy, chemicals, renewables, metals and mining research and consultancy group, released a report that studies the economic impact of offshore wind activities as a result of potential Bureau of Ocean Energy Management (BOEM) lease auctions from 2020 to 2022.[1] The report was commissioned by the American Wind Energy Association (AWEA), National Ocean Industries Association (NOIA), New York Offshore Wind Alliance (NYOWA) and the Special Initiative on Offshore Wind at the University of Delaware. The analysis found that the U.S. could generate $1.7 billion in U.S. Treasury revenue by 2022 by leasing out offshore wind areas already under study by BOEM. Through these leasing auctions, BOEM would unlock the potential for 4 GW of offshore wind energy by 2025, 25 GW by 2030, and 37 GW by 2035. The new offshore wind would lead to $17 billion of capital investment by 2025, $108 billion by 2030, and $166 billion by 2035. If these auctions take place, total full-time equivalent job creation from the resulting offshore wind activities (including development, construction and operation) could support approximately 80,000 jobs per year from 2025 to 2035 and 16,000 per year after 2035.

[1] https://www.awea.org/resources/publications-and-reports/white-papers/offshore_lease_economic_impacts