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The green building sector is outpacing overall construction growth in the U.S. and will account for more than 2.3 million American jobs this year, according to a new U.S. Green Building Council (USGBC) study from Booz Allen Hamilton.
The 2015 Green Building Economic Impact Study, released by USGBC and prepared by Booz Allen, finds the green building industry contributes more than $134.3 billion in labor income to working Americans. The study also found that green construction’s growth rate is rapidly outpacing that of conventional construction and will continue to rise.
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.
“Green building is playing a massive role in the U.S. construction sector, the clean and efficient energy sector and the U.S. economy as a whole,” said Rick Fedrizzi, CEO and founding chair, USGBC. “More than 2.3 million U.S. workers are taking home $134 billion annually in large part because of green building programs like LEED. Demand for green building will only continue to grow as individuals, businesses and institutions continue to prioritize sustainable approaches to the design, construction and operations of our built environment.”
The new USGBC analysis also explores the multifaceted economic contribution of green construction to the U.S. economy and individual U.S. states, quantifying the economic impact of green building and LEED.
Total state earnings related to LEED building construction projects are estimated to total $8.4 billion by 2018. In Texas alone, almost 1.26 million jobs in the green building sector are projected between 2015 and 2018. As a result, green building will also contribute to significant savings across energy, trash, water and maintenance costs.