Xcel Energy spends $745 million in area businesses, $84 million in property taxes, fees

Published: Aug. 10, 2022 at 3:11 PM CDT|Updated: Aug. 11, 2022 at 10:26 AM CDT
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AMARILLO, Texas (KFDA) - Xcel Energy spent $745 million in area businesses and $84 million in property taxes and fees last year.

A press release said in 2021, Xcel bought nearly $745 million in goods and services from businesses in Texas and New Mexico. This was to help local economies coming out of the COVID-19 pandemic.

The money was a significant increase over the amount spent with regional businesses in 2020.

“Local business is vital to the work we do on a daily basis, and the dollars we pump into the economy through trade with businesses — big and small — in our communities support many local jobs, both inside and outside of our company,” said Adrian J. Rodriguez, president, Xcel Energy – New Mexico, Texas. “We couldn’t do it without help from these important business partners.”

In 2021, $62 million was also put in property taxes to local governments in the Panhandle, the South Plains, and eastern and southeastern New Mexico.

As well, $22.3 million was paid in franchise fees to municipal and county governments to provide a reliable stream of revenue to fund essential services across the area.

Xcel works closely with local governments, area economic development organizations and chambers of commerce to support the retention of existing businesses and the attraction of new jobs in the area.

In 2021, the company was involved in development projects totaling $90 million in capital investments.

“It’s important to us personally and as employees of the region’s leading energy company that the communities we serve thrive economically,” Rodriguez said. “Our team’s roots run deep here, and we’ll be here for many years to come.”

Xcel operates in 96 towns and cities that includes the Panhandle and South Plains regions of Texas and a large portion of eastern New Mexico.

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