A new report by Eunomia, an independent environmental consultancy, illustrates the economic and employment impacts of New York State’s deposit refund system. The report also identifies the additional benefits modernizing the system would bring to New York’s economy.
The report was produced in response to New York Gov. Andrew M. Cuomo’s executive budget proposal to expand New York State’s bottle bill at the beginning of 2019. The proposal would expand the current deposit return system to include sports drinks, energy drinks, fruit and vegetable beverages, as well as ready-to-drink teas and coffee.
The report examines the economic impact of and the jobs created by the current system. It then goes on to identify the economic and employment benefits resulting from an increase in deposit to 10 cents and an expanded scope to include sports drinks, energy drinks, fruit and vegetable beverages, ready-to-drink teas and coffee and wines and spirits.
According to the report, the current system contributes the following to New York State’s economy:
- Direct jobs created: 3,275
- Direct, indirect and induced jobs created: 5,726
- Commodity value of deposit material: $55 million
- Value of unclaimed deposits, 80 percent of which goes to the state: $134 million
- Gross Value Add to the economy: $272 million
- Tax revenue: $14 million