The Future of the Green Economy–Growing Green Jobs and Other Green Initiatives Under the Next Administration

January 8, 2009
by JOSEPH MANKO
Client Alert Newsletter Forecast 2009

With the advent of a new administration in Washington, the search for bottom in the economy, and the global recognition of the need for combating climate change, the future of the green economy is NOW.

First, the recently enacted economic stimulus bill is intended to create millions of new jobs to restore, repair and replace failing infrastructure—from roads and bridges to water and wastewater treatment systems. In investing billions of dollars towards this end, new jobs and innovations will emerge. For example, the $400 million Clean Water Referendum approved by Pennsylvania voters in November 2008 will reportedly create 12,000 new jobs in Pennsylvania. It is anticipated that the economic stimulus package will have a like impact.

Second, the billions which will be parceled out to foster emerging green technology industries will create jobs for engineers, planners, and manufacturers as a new "green work force" is formed to provide strength in domestic production and exportable technology and goods. One trip to the offices of the Ben Franklin Technology Partners at the Philadelphia Navy Yard will confirm the reality of this projection.

Third, the need to control greenhouse gas emissions will begin to replace the burning of petroleum-based fuels with alternative and renewable fuels and bring about a society which can work and live in sustainable ways, thereby attracting the requisite venture capital investments, new government and foundation grants, research and development programs and other green initiatives to usher in a whole new "green generation" in the job market.

And the country and subsequently all countries will finally face the reality of, as Thomas Friedman calls it, surviving in a "Hot, Flat and Crowded" world.