Published on : Sep 16, 2015
The sector of green buildings is soon overtaking the overall growth of the construction industry in the United States and is likely to account for over 2.3 million employment opportunities for Americans this year alone.
The 2015 Green Building Economic Impact study was released on Wednesday by the US Green Building Council and was prepared by Booz Allen Hamilton. The study finds that in terms of labor income, the green building sector accounts for over US$ 134.3 billion to the working Americans. It also showed that the growth rate of the green building industry is quickly overtaking that of the conventional construction sector and is most likely to continue this streak.
The study finds that by the year 2018, green building construction will constitute for over 3.3 million employment opportunities in the United States, which is over one third of the overall construction industry in the US. It will also generate US$ 190.3 billion in terms of labor earnings. The direct contribution of the green construction sector toward the gross domestic product of the United States is anticipated to reach US$ 303.5 billion during the period of 2015 to 2018.
Chief executive officer and founding chair of the United States Green Building Council Rick Fedrizzi said that green building has been playing a rather significant role in the construction sector of the country. It has also made major contributions toward the clean and efficient energy sector as well as the overall economy of the United States. Over 2.3 million workers in the US take home around US$ 134 billion as annual earnings mostly because of leading green building initiatives such as LEED. The demand for green buildings is only going to rise because businesses, individuals, and institutions will continue to give importance of sustainable approaches when it comes to the design, construction, and operations of the construction environment.