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Green Jobs and Industries Still A Bright Spot In Economy

May 09, 2008  |  from Construction Jobs Blog

I was reading Forbes.com today and stumbled across a column that put a smile on my face.  While researching “the effects on the economy and job market from…greater green industry,” Michael Marks came to the same realization I did a short while ago:  “lo and behold, I found a topic that is nearly universally positive.”

With housing and financial turmoil, the increase in energy costs, and disasters dominating headlines for the past few months, it may be easy to overlook the progress of green industries and the promise they hold for America’s future.  And their promise is starting to be fulfilled:

– 2007 set solar energy records:  314 megawatts of new solar-generating capacity were constructed or installed in the U.S. last year, creating more than 6,000 new jobs and adding over $2 billion to the economy

– the number of jobs in “renewable energy or energy-efficient industries” is skyrocketing, with the American Solar Energy Society estimating it at about 8.5 million, and Marks predicting it could clear 40 million by 2030

The government is stepping in as well:

– “the U.S. Congress has created investment tax credits for solar and wind energy and has mandated greater use of biofuels”

– individuals states are passing renewable-energy standards, adding green industry education in schools, and subsidizing the installation of solar cells on home rooftops

– on the local level, individual municipalities are instituting sustainability initiatives as well, like the recent green building ordinances adopted by Los Angeles

Marks points out that the private sector is embracing green industries with open arms:

– wind power plants are opening in states across the country, and GE alone has created more than 5,000 U.S. jobs, and expects that number to top 10,000, in this industry

– Solar energy companies have announced expansions and upgrades in 2007, and we can expect this trend to continue in the coming years

– U.S. venture-capital investment in “green”, cleantech companies set a new record in 2007

The boom in green industries bodes especially well for construction.  Besides the permanent jobs created by these industries, thousands and thousands of additional jobs for the construction of new structures, or the renovation of old structures, will be created as well.  All types of construction, commercial, residential, and governmental, will experience the benefits.

Read Michael Marks’ Article, The Brighter Side of Green, on Forbes.com.

Filed: Industry-Outlook