Arkansas Business Leaders for a Clean Energy Economy has released a new economic analysis that finds strong federal policy could create up to 25,000 jobs in Arkansas, increase incomes by $1,230 and grow the state economy by $1.2 billion. The new study was co-released with national clean energy business group E2, the national investor coalition Ceres and the Clean Economy Network.
‘This study shows that the stronger the federal energy and climate policies, the more Arkansas stands to gain economically,’ says Eddy Moore, coordinator of Arkansas Business Leaders for a Clean Energy Economy, a group that acts as a coordinating entity, providing businesses with opportunities to play a larger role in climate and energy debates. ‘We need to grow our wind, bioenergy and energy efficiency industries, and also employ thousands of people in developing and implementing more energy-efficient building and industrial facility technology.’
According to the study, ‘Clean Energy and Climate Policy for U.S. Growth and Job Creation: An Economic Assessment of the American Clean Energy and Security Act,’ aggressive policy implementation results in greater economic and job growth in Arkansas by 2020 than moderate or no implementation. In addition, the strongest policies could generate up to 25,000 additional jobs in the state, increase real gross domestic product (GDP) by $1.2 billion and real household income by $1,230 per year (as measured in 2008 dollars) by 2020.
Even moderate implementation drives economic growth in Arkansas, generating $400 million GDP and $457 household income growth, the study says.
Results from the study are consistent with projections by agencies such as the Environmental Protection Agency, the Congressional Budget Office and the Department of Energy, all of which show substantial economic benefits from more efficient energy use, according to the Arkansas Business Leaders for a Clean Energy Economy.