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Xcel details its community impact

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Xcel Energy has released information showing the ways the company and its employees contribute to Texas and New Mexico economies.

A recent analysis of Xcel Energy’s financial operations shows that the company spent close to a half billion dollars in 2017 with vendors based in its Texas and New Mexico service area as it continued capital improvements to the region’s electricity grid, a news release stated.

“This spending supports thousands of jobs and families across our Texas and New Mexico service area,” said David Hudson, president of Xcel Energy in New Mexico and Texas. He added that the spending also ensures reliable electrical supplies in the region.

Xcel Energy, a public company based in Minneapolis, Minnesota, and operating in eight Western States, serves 94 towns and cities in a 52,000-square-mile service territory that includes the Panhandle and South Plains regions of Texas and a large portion of eastern New Mexico. The company’s high-voltage transmission network stretches from southwestern Kansas down to southeastern New Mexico.

In 2017, Xcel Energy paid more than $71 million in taxes and franchise fees in Texas and close to $45 million in taxes and franchise fees in New Mexico. It employs 1,500 people in Texas and more than 200 in New Mexico.

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Employees’ contributions to their communities include donations of $700,000 to local United Way organizations in Texas and New Mexico, a number that includes a corporate match from Xcel Energy. Additionally, employees gave more than $260,000 to area nonprofits and volunteered more than 4,500 hours.

The company said it expects its impact on the regional economy to increase as it moves ahead with wind energy facilities in Texas and Portales, a $1.6 billion investment that is expected to save customers $2 billion over 30 years and will generate $2.6 million in landowner royalty payments in New Mexico and $1.9 million in Texas. The facilities also will pay about $132 million in local property tax payments in New Mexico and $22 million in Texas over 25 years.

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