The Better Buildings Initiative—a White House plan designed to increase energy efficiency in commercial and multi-family buildings—would create 144,000 jobs an analysis released Monday by The Real Estate Roundtable, the U.S. Green Building Council, and the National Resources Defense Council concluded.
“This Obama Initiative works for our economy in two important ways: it helps create tens of thousands of good-paying jobs while making us more energy efficient,” said The Roundtable’s CEO and President, Jeffrey D. DeBoer. “Unemployment in the construction sector continues to hover above 16 percent. Lending is still difficult to come by in many markets, so financial incentives like these proposed by the White House will leverage private investment to help propel our cities and suburbs forward into a new energy economy.”
A tax-deduction designed to encourage energy efficiency upgrades proposed in the initiative is expected to create 77,000 jobs alone.
The energy upgrades will have significant trickle-down effects on the rest of the economy and promote business growth and investment in all sectors. In addition to encouraging investment in clean and energy efficient technology, the plan will save businesses over $1.4 billion in energy costs.