Earth Economics Contributes to Analysis of Economic Recovery Plans for Washington State
The damaging effects of the ongoing COVID-19 pandemic have left policy makers everywhere with the task to determine the best way to rebuild their economies. In an effort to provide information to assist in this decision making process ClimateXchange and Low Carbon Prosperity Institute partnered (along with several other contributors, including Earth Economics) to conduct an analysis of possible recovery plans. Their work consisted of comparing their own investment portfolio against the impacts of equally sized investments in Washington's ten top industries. Their sample was called the Resilient Recovery Portfolio and is composed of 14 programs that fall within clean transportation, water and energy efficiency, forest conservation and ecosystem restoration, low carbon agriculture, and sustainable industry.
Their findings concluded that for every $1 million invested in their plan 10.1 full time equivalent jobs are created. This outperforms the job growth possible from $1 million that would generate 4.2 jobs if invested in the top ten industries in the state. Not only are the jobs offered by the Resilient Recovery Programs higher in quantity, but they also help progress the state toward meeting its climate targets which could open up $46 billion in net health and climate benefits over the next 30 years. This report provides detailed information that is designed to help guide decision making. The Resilient Recovery Portfolio works to maximize sustainable job creation and healthy communities for years to come.
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