The US green building industry will support 7.9m and contribute over $550bn (£332bn) to the US economy over the next four years, according to a report this week from the US Green Building Council.
The study found that green construction spending currently supports more than two million US jobs and generates more than $100bn in gross domestic product, but it predicted that the sector is poised for rapid growth as a result of economic stimulus funding and increased demand for energy-efficient, low-carbon buildings.
The Green Building Council says its 19,000 member organisations generate $2.6tn in annual revenue, employ approximately 14 million people, and include 46 Fortune 100 companies.
Rick Fedrizzi, chief executive of the Green Building Council, which currently boasts 19,000 member organisations, said that the aim of the group was to force sustainable building practices into the mainstream construction industry. "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," he said.
He added that the sector was well positioned for growth, with spending on LEED projects – the popular US green building standard - having already generated 15,000 jobs since 2000. The report predicted that by 2013 an additional 230,000 jobs will be created by LEED building projects alone.
The construction sector has also proved to be one of the main beneficiaries of President Obama's Recovery and Reinvestment Act, which earmarked billions of dollars for investment to improve the energy efficiency of federal and domestic buildings.
In addition, the sector is hopeful it could receive a further boost from the Boxer-Kerry climate change bill, which is currently working its way through the Senate and contains proposals for the development and adoption of a national energy efficiency building code.
Gary Rahl, senior vice president at consultants Booz Allen Hamilton, said the GBC study demonstrates the growing strength of the industry.
"In many ways, green construction is becoming the standard for development," he said. "As a result, it is expected to support nearly eight million jobs over the next five years, a number four times higher than the previous five years."
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