Jobs: in order to examine where we are and where we are going, weneed to look at where we have been. To gain perspective on America’sgreen energy economy, the Pew Charitable Trusts researched the greenindustry between 1998 and 2007. “The Clean Energy Economy: RepoweringJobs, Businesses and Investments Across America“ analyzes all aspects of the green economy and views the industry as a critical component of our future.
What did the report find? While total jobs in the U.S. grew only 3.7% between 1998 and 2007, green energy jobs grew 9.1%. The jobs represent a wide variety within clean tech, from scientists and researchers, toelectricians, installers, manufacturers and teachers. Businesses in all50 states and the District of Columbia accounted for about 770,000 jobsby 2007.The green industry is clearly in its infancy, but the reportlays out how it should have a vibrant future.
Venture capital (VC) helped fuel the growth. VC investments allowcompanies to grow and hire employees (create jobs), help bring newtechnologies forward, assist companies in scaling up or increasingproduction. Investment from VC reached more than $1 billion in 2005.Yes, the recession caused a drop in VC, but the report says greenindustry VC fared better than many other industries. Green VC was down48% in the first quarter of 2009, but total VC investments in allsectors was down 61% in the same first quarter.
Courtesy Pew Charitable Trusts
Infusion of capital from stimulus funds, not traditionally considered VC, allocated up to $85 billion for tax incentives or direct spending,though not all of these funds have been used to date.
… to be continued
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