The green building industry continues to grow in the U.S. and its value is now outpacing overall construction growth, according to a new study commissioned by the USGBC and prepared by Booz Allen Hamilton. The 2015 Green Building Economic Impact Study also finds that the green building sector will support more than 2.3 million American jobs and contribute more than $134.3 billion in labor income to working Americans this year.
In addition to adding value to the construction industry, the study shows that green construction will continue to grow in the future, projecting that it will account for more than one-third of jobs in the U.S. construction sector by 2018, as well as generating $190.3 billion in labor earnings. Additionally, the industry’s contribution to GDP is expected to reach $303.5 billion in the next four years. The study notes that with the expected growth in green building will also come an increase in the industry’s contribution to individual states’ tax contributions and environmental asset indicators at the national and state levels.
“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% of green constructions overall contribution to GDP in 2015. This industry is certainly on the rise, and aggressive growth in the green building sector is anticipated over the next four years,” says David Erne, Senior Associate at Booz Allen.
Green benefits aren’t just for new facilities! Check out this guide to getting your existing building certified under LEED to learn how certification could benefit your organization.