Design and Construction Report staff writer
New York could see more than 300,000 new jobs, led by growth in construction and transit, if the state moves forward with the Clean Air Initiative, according to a new analysis from the Environmental Defense Fund and Greenline Insights.
The report estimates that investments made through the proposed cap-and-invest program would drive job creation in building decarbonization, clean energy infrastructure and clean transportation, while also delivering billions of dollars in household savings and broader economic growth across the state.
The Clean Air Initiative would place a statewide limit on pollution from major emitters and require companies to pay for each ton of emissions. Revenue would be reinvested in clean energy and efficiency projects intended to lower energy costs, improve public health and reduce emissions. The program has not yet launched.
Researchers estimate that over the program’s first 10 years, the initiative would generate more than 300,000 jobs and support $48 billion in economic growth statewide. Net household savings are projected at $6.9 billion, or an average of about $1,060 per household for roughly 85 per cent of New York households earning $200,000 a year or less.
“Our analysis shows that the vast majority of New Yorkers are missing out on savings and economic opportunities across the state due to delays in implementing the Clean Air Initiative,” said Kate Courtin, senior manager for state climate policy and strategy at the Environmental Defense Fund.
Job growth would be strongest in construction and transit, driven by investments in clean transportation services, energy-efficient buildings and new clean energy projects, the report says.
Jonah Kurman-Faber, founder and principal at Greenline Insights, said the data shows the program would act as a major economic development tool. “The program’s investments play to the state’s economic strengths and provide meaningful financial benefits to an overwhelming majority of the population,” he said.
The analysis found economic benefits in all 10 of New York’s economic development regions. Per-household savings were highest in the Mid-Hudson, Western New York and Long Island regions, while per-capita job growth and economic gains were strongest in more rural areas such as the North Country, Mohawk Valley and Southern Tier. Larger population centres, including New York City and Long Island, would see the largest total gains.
The report also found that a more aggressive version of the program would roughly double projected household savings, job creation and economic output.
Researchers said the findings align with earlier studies that concluded the Clean Air Initiative would deliver broad economic benefits while providing the greatest financial relief to lower- and middle-income households.
