The green-building sector is outpacing overall construction growth in the United States and will account for more than 2.3 million American jobs this year, a new U.S. Green Building Council (USGBC) study from Booz Allen Hamilton says.
“2015 Green Building Economic Impact Study” finds the green-building industry contributes more than $134.3 billion in labor income to working Americans. The study also finds that green construction's growth rate is rapidly outpacing that of conventional construction and will continue to rise.
By 2018, the study finds, green construction will account for more than 3.3 million U.S. jobs—more than one-third of the entire U.S. construction sector—and generate $190.3 billion in labor earnings. From 2015-2018, the industry's direct contribution to U.S. Gross Domestic Product (GDP) is expected to reach $303.5 billion.
The analysis also explores the multifaceted economic contribution of green construction to the U.S. economy and individual U.S. states, quantifying the economic impact of green building and the LEED (Leadership in Energy and Environmental Design) green-building rating system.
"Our research shows that green building has created millions of jobs and contributed hundreds of billions of dollars to the U.S. economy, with the construction of LEED-certified buildings accounting for about 40 percent of green construction's overall contribution to GDP in 2015," David Erne, a senior associate for Booz Allen, said. "This industry is certainly on the rise, and aggressive growth in the green-building sector is anticipated over the next four years."
The study also projects significant growth in green building's contribution to individual states' tax contributions and environmental-asset indicators at both the national and state levels.
Total state earnings related to LEED building-construction projects are estimated to total $8.4 billion by 2018. In Texas alone, almost 1.26 million jobs in the green-building sector are projected between 2015 and 2018. As a result, green building will contribute to significant savings across energy, trash, water, and maintenance costs.