Cap-and-invest = cap-and-ignite.
The CCA Jobs & Economic Benefits Report from Greenline Insights is a deep analysis of the projected impact Washington state’s Climate Commitment Act (CCA) will have on our state’s economy, and it shows:
- The CCA is projected to create over 45,000 jobs and generate $9.1 billion in economic output — all benefits that will be lost if the CCA is repealed due to actions by the Legislature or voters.
- With leveraged federal, local, and private-sector funding, the economic output could rise to $51 billion.
- For every dollar invested by the state, Greenline Insights projects up to $13 in economic growth.
- This is consistent with – yet higher than – what’s been observed in California.
- Jobs created by the CCA offer an average of $91,000 per year in employee compensation, which is 9% higher than the state median.
- Nearly two thirds of all jobs created happen within three categories of occupations: Business management, Construction and Transportation.
- Every region of Washington is expected to receive at least $300 million in CCA-funded investments over the next eight years.
- Large counties receive more, but many smaller counties receive greater share per capita.
During our Made in Washington Study Mission, Jonah Kurman-Faber released the Greenline Insights report estimating 45,000 jobs created by the Climate Commitment Act.
More highlights here:
“Our findings suggest that the Climate Commitment Act is a potent job creator and economic development tool for Washington state – it promotes labor-intensive new business growth and provides a crucial advantage in attracting new federal and private investments into the state,” said Jonah Kurman-Faber, Greenline Insight’s Founder and Principal.
“The Climate Commitment Act is crucial for Spokane’s future,” said Spokane Mayor Lisa Brown. “It not only addresses environmental sustainability, but drives job creation and economic growth. By investing in clean energy and green infrastructure, we foster innovation, attract new industries, and build a resilient economy that will benefit our community for generations.”
Governor Jay Inslee told FastCompany, “The fact that we are on the precipice of disaster is obvious, and it’s been quite obvious for some period of time. I actually believe that the thing we need now is a sense of optimism that we can build a clean-energy economy. That’s the thing that we have succeeded in in Washington—building this vision that we can have a successful economy, we can build thousands of new jobs, we can give our children an economic future. Firm conviction that we can do this is the part we need right now. If people have confidence we can do it, there’s no reason not to. And that’s where I think the Washington experience is important. Because it definitely does demonstrate that this vision is a successful one—that we shouldn’t fear decarbonizing our economy, we should embrace it as a real positive future for us.”
The CCA Jobs & Economic Benefits Report from Greenline Insights demonstrates that the CCA’s Cap-and-Invest program is in fact a program to ignite our clean economy and build a positive future.
On Wednesday, Sept 25th Clean & Prosperous Institute and Greenline Insights are hosting a webinar about the study. If you are interested in attending, RSVP here.