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Analysis Says Energy Bill would Boost GDP, Jobs
Milwaukee Sentinel Journal
03/08/10
By Thomas Content of the Journal Sentinel
Feb. 18, 2010 |(6) COMMENTS
A new analysis of the state global warming bill concludes it will boost the state's gross domestic product and create more than 16,000 jobs.
The analysis by the Center for Climate Strategies was conducted by economists at Michigan State University and the University of Southern California.
The analysis found the state's economy wold be boosted by $254 million by 2015, and by $1.41 billion, by 2025, for a cumulative total of $4.9 billion.
The analysis indicates many of the jobs would be created through energy efficiency policies that would spur retrofits of energy-wasting buildings to bring down energy costs, energy use and carbon emissions.
More than 14,000 of the jobs that would be created by the bill would come from the energy efficiency policies, the analysis said.
Those policies would spur more spending on energy efficiency programs and enhance incentives for businesses and homeowners to make their buildings more energy-efficient.
According to the study:
Households who spend less on energy have more spending power for other goods
and services. As energy purchases tend to follow energy commodities out of the state,
lower energy expenditures allow Wisconsin to capture a greater proportion of total
household expenditures. Additionally, low energy costs afford greater competitiveness of
Wisconsin's businesses in the global economy, and cost savings provide resources for
business expansion.
The independent analysis was commissioned by the state of Wisconsin, which had released an earlier study by state agencies contending the policies would create more than 15,000 jobs. In a statement Thursday, Doyle said:
This independent report clearly shows what we have been saying all along: passing the Clean Energy Jobs Act will create thousands of new jobs in Wisconsin. This is not just an environmental issue; it's about creating jobs. The world is moving rapidly in this direction. We must seize the opportunity in front of us to build a strong, growing sector of our economy around clean energy.
Associated Link:
Analysis Says Energy Bill would Boost GDP, Jobs
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