Powering Success in Our CommunityAugust 2020
Suwannee Valley Electric Cooperative’s commitment to advancing the quality of life in the Suwannee Valley extends well beyond our day-to-day electric operations.
SVEC sponsors and participates in numerous community events and makes financial contributions to a wide variety of nonprofit organizations that serve the residents of the Suwannee Valley.
Our employees repeatedly demonstrate their concern for the welfare of the community by participating in volunteer service projects and donating money to benefit people in need.
SVEC strives to support the development and aspirations of our area’s young people. The cooperative annually:
- Awards 11 college scholarships to local high school seniors.
- Hosts high school juniors for a two-day tour of Florida’s state capital.
- Sends two juniors to the Rural Electric Youth Tour of Washington, D.C.
- Sponsors numerous youth organizations and activities.
- Awards thousands of dollars in grants to schools through the Operation Round Up® program.
Contribution to the Economy
The value of SVEC’s contribution to the economy was detailed in a 2019 economic impact study by the National Rural Electric Cooperative Association. It found that over five years, from 2013 to 2017, SVEC contributed $239.8 million to Florida’s Gross State Product, including $209.6 million in value-added to the local economies of Columbia, Hamilton, Lafayette, and Suwannee counties.
SVEC’s contribution to the economy can also be measured in jobs. From 2013 to 2017, SVEC directly provided or supported an average of 378 jobs per year and a total of $88.3 million in labor income throughout Florida, including 285 jobs annually and a total of $70.6 million in labor income in the local community. Many of the 89 full and part-time jobs provided by SVEC are linemen, but other positions at the co-op include engineers, member service representatives, and accountants. With these jobs, we’re able to serve our consumer members.
The economic impact study also found that SVEC generated more than $61.3 million in state and local tax revenue. That revenue is reinvested in strengthening our community’s schools and other essential services.
Also, SVEC engages with state and local governments, chambers of commerce, and economic development organizations to help support existing businesses and attract new employers to the area.