The Sustainable Business Network (SBN) officially released the Local Economic Impact Report of the First Five Years of Green City, Clean Waters.
Green City, Clean Waters is in year 5 of 25, with Philadelphia Water projected investments of $1.2 billion in stormwater infrastructure projects. However, the investment is estimated to produce a $3.1 billion impact in the local economy, supporting 1000 jobs and generating $2 million per year for local tax revenues (for 25 years.) Sustainable initiatives FTW!
The Philadelphia Water Department began Green City, Clean Waters as a sustainable solution to stormwater infrastructure. According to SBN,
The highly anticipated report, executed by Econsult, assesses the local economic impact of Green City, Clean Waters in its first 5 years. Using SBN’s GSI Partners as a proxy for the larger industry, the report also makes projections of what can be expected with continued investment in GSI.
SBN will brief City Council on February 24, 2016 on the results of the report and will use it for upcoming advocacy efforts.
Read the full report here.
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