Published Date : Sep 30, 2015
According to a new study by the United States Green Building Council from Booz Allen Hamilton, the green building industry in the US is surpassing the overall development levels in the construction sector. The green building sector is likely to account for over 2.3 million American employment opportunities this year alone.
The United States Green Building Council released the 2015 Green Building Economic Impact Study on Wednesday. The study, prepared by Booz Allen, reveals that the green building sector – in terms of labor income – contributes over US$ 134.3 billion to working Americans. The study further revealed that the growth rate of the green construction industry has been swiftly overtaking that of the traditional construction industry and this trend is likely to rise in the coming years.
The study finds that by the year 2018, green building will result in over 3.3 million jobs in the United States, which is over one third of the number of jobs created in the overall construction sector in the country. The green construction industry will also generate labor earnings amounting to US$ 190.3 billion. The direct contribution of the green building sector towards the gross domestic product in the United States is anticipated to reach US$ 303.5 billion from the year 2015 to 2018.
Chief executive officer and founding chair of the United States Green Building Council Rick Fedrizzi said that green building has been making a significant contribution towards the growth of the construction sector in the country, the clean and efficient energy industry, and the overall economy.
Rick added that over 2.3 million workers in the United States take home US$ 134 billion every year for most part owing to green construction programs such as LEED. The demand for green construction is estimated to rise as businesses, individuals, as well as institutions continue to pay attention to sustainable approaches in terms of construction, design, and operations.