Green building growth set to add $304B to GDP by 2018

Dive Brief:

The pace of green building growth is exceeding the overall construction industry, according to the 2015 Green Building Economic Impact Study prepared by Booz Allen for the U.S. Green Building Council.
The green building industry will account for more than one-third of jobs in the nation's construction industry — 3.3 million — and $190.3 billion worth of labor earnings by 2018.
Between 2015 and 2018, green building will directly contribute $303.5 billion to the country's gross domestic product, according to the study.

Dive Insight:

Texas is projected to see the greatest benefit from the green building sector, with an additional 1.26 million jobs created within the industry in the next three years.

The study also examined the impact of LEED-certified buildings, finding that construction of those buildings represented 40% of the green building industry's GDP contribution this year. State earnings from LEED projects will reach $8.4 billion by 2018, according to the report.

Green building is far from a new concept, but environmentally friendly construction has been picking up steam and likely won't let up anytime soon.

In July, BCC Research reported the U.S. market for green building materials topped $43 billion in 2014, and predicted it will grow at an above-average pace to reach $69 billion within four years.