Spending on green building is sprouting up, according to new research released at the Greenbuild International Conference & Expo in Phoenix. The study from the U.S. Green Building Council and Booz Allen Hamilton found that building will support nearly 8 million jobs and pump $554 billion into the American economy.
Analyzing the total value of green building and its likely impact on jobs related to construction and design, the survey found that from 2000 to 2008, green construction contributed $178 billion to the U.S. gross domestic product and $123 billion in wages. This is expected to more than triple over the next four years to $554 billion contributed to the GDP and $396 billion in wages between 2009-2013.
Looking at LEED-specific spending, rather than the overall value of LEED-certified buildings, the forecast is similarly promising, with $830 million in contributions to the GDP between 2000-2008 ballooning into $12.5 billion between 2009-2013. Wages related to LEED spending are pegged at $703 million for the first eight years of the decade, and are forecasted to grow to $10.7 billion over the next four years.
Those behind the study see this rapid growth as part of the trajectory as designing and constructing buildings sustainably becomes the norm in the years ahead.
"Our goal is for the phrase ‘green building’ to become obsolete, by making all building and retrofits green—and transforming every job in our industry into a green job," says Rick Fedrizzi, president and CEO of USGBC, in a statement. "This study validates the work that the 25,000 people gathered here at Greenbuild, and every member of our movement, do every day."
