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Green Building to Benefit from ARRA

March 25, 2009
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Good news is on the horizon for manufacturers of green building materials. According to a new study from The Freedonia Group, Inc., the market for these materials is anticipated to reach over $80 billion in 2013, increasing by 7.2% annually. The growth will mostly be due to a rebound in the residential market, though green materials are expected increase in popularity vs. traditional materials.

The recently passed American Recovery and Reinvestment Act (ARRA) includes a number of provisions that will offer opportunities for green building materials manufacturers. For example, the “greening” of schools and federal facilities will receive $53.6 billion and $5.55 billion, respectively.

According to the U.S. Green Building Council (USGBC), “Green building is among the cornerstones of a clean energy economy. The building industry makes up 14.7% of U.S. GDP and uses 40% of our nation’s energy. Greening our existing buildings would result in an estimated savings of $160 billion in energy costs, while creating green jobs that can’t be exported.”

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