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Good News on Green Building from USGBC’s Economic Impact Study
December 21, 2015
According to the U.S. Green Building Council (USGBC) economic impact study from Booz Allen Hamilton, the green building sector is outpacing overall construction growth in the U.S. and will account for more than 2.3 million American Jobs. By 2018, the study finds, green construction will account for more than 3.3 million U.S. jobs-more than one-third of the entire U.S. construction sector-and generate $190.3 billion in labor earnings. The industry's direct contribution to U.S. Gross Domestic Product (GDP) is also expected to reach $303.5 billion from 2015-2018. On the surface, it would seem well positioned businesses could reap predicted rewards.
From 2011-2014, green building generated $167.4 billion in GDP, and supported more than 2.1 million jobs, providing $147.7 billion in labor earnings. In that same period, LEED construction generated $80.6 billion in GDP, supported 1 million jobs, providing $70.9 billion in earnings.
Other findings from the study include the growth in green construction spending from $10,000 million in 2005 to $129,000 million in 2014 – with expected growth to $224,000 million by 2018. Green construction saved an estimated $726,212,00 in 2014 and LEED construction saved $423,151,000 in that same year. In 2014, LEED Platinum building saved an average of 68 cents per square foot just on energy costs.
The study can be downloaded for free (with registration) here.