Atlantic Power Transmission (APT), a Blackstone portfolio company, has made a $50 million commitment to a workforce development hub in New Jersey.
The funding will help create a hub for the offshore wind industry in the Northeast region and the state, addressing one of the recommendations outlined by the New Jersey Offshore Wind Strategic Plan.
ATP said this funding commitment of $50 million over 10 years will support workforce development investment in New Jersey’s education, training and research institutions. APT will initiate the investment into the New Jersey workforce upon award of its bids to provide transmission supporting the delivery of 3,600 megawatts of offshore wind power to the existing electrical grid.
The project is expected to generate some $1.5 billion in economic benefits to New Jersey and enable 1,000 direct jobs per year during the five construction years. APT and the New Jersey Union Coalition are focusing on maximizing local manufacturin