Rowan University analysis highlights Greater Paulsboro Energy Companies as a major driver of the regional economy

The Greater Paulsboro Energy Companies (GPEC) generate nearly $814 million in total economic output and support 2,855 jobs, making it a major driver of economic activity in Gloucester County, according to a new study by the Steve Sweeney Center for Public Policy at Rowan University.

“The GPEC companies are the economic anchor of Gloucester County’s port economy, supporting high-paying, stable union jobs and contributing to local property taxes,” said Gloucester County Administrator Steve Sweeney, who chairs the policy center. “In these days of international energy supply and price uncertainty, we need an ‘all of the above’ approach more than ever that supports refineries like these that are a critical component of our national economy and to sustain our modern way of life.”

Stuti Jha, Ph.D., and Kul Kapri, Ph.D., Associate Professors of Economics, conducted the economic analysis, working with the GPEC member companies and the leaders of the Sweeney Center and the interdisciplinary Rowan Energy Collaborative (ROWEC) on the data-driven study.

GPEC generates approximately $22.6 million in local tax revenue, helping fund public schools, emergency services and municipal infrastructure. GPEC also generated $265.9 million in labor income and contributed $437.8 million in value to New Jersey’s economy, the economists found.

“The energy companies that make up the GPEC are a cornerstone of our local and national economy,” said Rowan University President Ali A. Houshmand, Ph.D. “We are pleased to play a role in sharing their story through this impact study and we are grateful for their leadership in advancing innovation and workforce development alongside organized labor."

Together, GPEC comprises the Paulsboro Refining Company, CPI Operations, PBF Logistics Products Terminal Paulsboro, ExxonMobil Lubes Plant, Repauno Port & Rail Terminal, Sunoco Property and Energy Transfer Eagle Point Terminal. These facilities occupy a strategic location along the Delaware River spanning Paulsboro, Greenwich Township and West Deptford in Gloucester County with access to railroads and the I-295 and I-95 corridors serving markets throughout the Northeast and Mid-Atlantic regions.

GPEC provides significant tax revenue, wages and capital investment that reaches communities throughout South Jersey. The impact on jobs is significant, as statistics from the Paulsboro Refining Company demonstrate.

“This refinery has anchored the local economy for more than a century,” said Michael Capone, General Manager of Paulsboro Refining Company. “Today, we have 295 full-time employees and 290 contractors working on site daily. Most of our employees are unionized, and a majority of contractors are trade union members. These highly paid, skilled workers are committed to safe, reliable, and environmentally responsible operations for our refinery, rail and truck yards, and marine terminal that supply fuels and products that help provide our modern standards of living and mobility.”

“These are the types of skilled union jobs New Jersey is trying to attract. We offer more than jobs – we offer family-supporting careers with excellent pay, some of the best benefits available, and the opportunity to build a secure future,” said William T. Mullen, President of the New Jersey Building and Construction Trades.
GPEC accounts for nearly one-third (30.7%) of the combined economy of Paulsboro, Greenwich and West Deptford and supports roughly one in six jobs (16.5%) across the three municipalities.

“The GPEC companies are the backbone of the local economy in their region and generate significant tax revenue to Gloucester County, South Jersey and the entire state,” said Assemblyman David Bailey (D-3), whose legislative district includes the GPEC facilities.

Total tax revenue generated by GPEC was $107.1 million, including $22.6 million in direct local taxes to the three municipalities in which they are located, making up 17.5 percent of local property taxes.

More than $53.8 million has been invested in capital investments, including the redevelopment of the Repauno site, storage cavern expansions and terminal improvements.

“ExxonMobil is proud to be integral to New Jersey’s economy for more than a century. Our Paulsboro advanced manufacturing facility produces essential consumer and industrial lubricants to keep the region moving,” said Raul Sanchez, ExxonMobil Paulsboro Lubricant Plant Manager.

Dr. Jha, the lead researcher on the study, summed up her findings.

“Using the IMPLAN input-output framework to evaluate 2023 data from GPEC companies, the Center found that GPEC facilities generated $813.7 million in total economic output and value added of $437.8 million to New Jersey’s economy,” she said. The study used 2023 data because that was the most recent year for which a complete set of all relevant economic data was available.