National Studies Show Green Building's Importance to Economy

Several newly released studies point to green building as one of the growing bright spots for the U.S. economy, according to the U.S. Green Building Council.

"As research comes in from diverse sources examining the interest in green buildings among a wide range of Americans, the numbers keep painting the same picture: The future of our built environment clearly centers on energy efficiency, water reduction, systems that encourage cleaner indoor air, the use of recycled and more sustainably developed materials, and communities that coexist with their environments," says Rick Fedrizzi, president, chief executive officer and founding chair, U.S. Green Building Council. "Over and over again, Americans are saying the same thing: The key to a prosperous future is sustainability, and the triple bottom line-environmental responsibility, economic prosperity and social equity-is imperative as we move forward."

According to Turner Construction Company's "Green Building Barometer," 75 percent of commercial real estate executives-including developers, rental building owners, brokers, architects, engineers and others-say the credit crunch will not discourage them from building green. In fact, 83 percent said they would be "extremely" or "very" likely to seek LEED certification for buildings they are planning to build within the next three years.

Other key findings from this and other studies, conducted over the past year among constituencies ranging from consumers and homeowners to commercial real estate executives, include:

• Seventy percent of homebuyers are more or much more inclined to buy a green home over a conventional home in a down housing market, according to McGraw-Hill Construction's 2008 SmartMarket Report, "The Green Home Consumer." That number is 78 percent for those earning less than $50,000 a year, showing the increasing access to green buildings for all members of our society. In fact, 56 percent of respondents who bought green homes in 2008 earn less than $75,000 per year; 29 percent earn less than $50,000.
• LEED-certified projects are directly tied to more than $10 billion of green materials, according to a Greener World Media study on green building. Experts predict that that number could reach more than $100 billion by 2020.

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