The Sustainable Business Network of Greater Philadelphia (SBN) releases report assessing the Local Economic Impact of the First Five Years of Green City, Clean Waters.
This highly anticipated report, executed by Econsult Solutions, has interest from many local, regional, and national organizations, as well as members of City Council.
This report assesses the local economic impact of the first 5 years of Philadelphia’s comprehensive stormwater management plan, Green City, Clean Waters. The plan, managed by Philadelphia Water, is addressing EPA Clean Water Act regulations with decentralized, neighborhood scale, natural systems, otherwise known as green stormwater infrastructure (GSI).
“Just 5 years into this ambitious, daring, and innovative 25-year plan to address federal water quality requirements, GCCW is already demonstrating present results and future potential.” – Jamie Gauthier, Executive Director, Sustainable Business Network of Greater Philadelphia
Using the GSI Partners (a subset of SBN members) as a proxy for the larger industry, the report shows local economic growth is resulting from the public and private investments in GSI that are being catalyzed by the plan.
“The GSI Partners experienced double-digit annual revenue growth from 2013 to 2014. We estimate that these local businesses currently represent an annual economic impact of almost $60 million within the City of Philadelphia, supporting 430 local jobs and generating nearly $1 million in local tax revenues.” — Anna Shipp, GSI Partners Project Manager, Sustainable Business Network of Greater Philadelphia
The report also makes projections of what can be expected with continued investment in GSI. Indicators of local economic growth go beyond the growth of the businesses within the industry, so the report also evaluates the real estate market as well as neighborhood level benefits that have resulted from the public and private investment catalyzed by Green City, Clean Waters.
“Conservatively, over the life of GCCW, public and private investments in GSI are projected to produce a $3.1 billion impact in the Philadelphia economy, supporting roughly 1,000 jobs per year and generating $2 million per year in local tax revenues.” – Lee Huang, Senior Vice President and Principal, Econsult Solutions, Inc.
SBN will brief City Council on February 24th on the results of the report, and will use this report in their continued efforts to support the maximum triple bottom line success of Green City, Clean Waters.
About the Sustainable Business Network of Greater Philadelphia (SBN)
The Sustainable Business Network (SBN) is a non-profit membership organization working to build a thriving, local, and sustainable economy in the Greater Philadelphia region. They are accomplishing this by growing and educating a broad base of local, independent businesses and educating policymakers and the public. Through their services, products, and internal practices, SBN’s 400 members are locally-owned businesses that strive to create positive change for the environment and in their communities.
SBN supports Green City, Clean Waters and its triple-bottom line approach, and through the GSI Partners, SBN is working to maximize the local economic, environmental, and social impact of the plan.
About the Green Stormwater Infrastructure (GSI) Partners
The Green Stormwater Infrastructure (GSI) Partners is a priority initiative of SBN working to advance the local GSI industry, innovation, and the local economy as it relates to GSI. Formed in 2012 in response to Philadelphia’s ambitious and innovative stormwater management plan,
Green City, Clean Waters, the GSI Partners advocate for the greenest approaches to be facilitated and incentivized as much as possible, and for the public and private investment to remain as local as possible. Members include locally-owned engineering and landscape architecture firms; landscape contracting firms; builders; and material suppliers whose services and products pertain to GSI.
About Econsult Solutions, Inc.
Econsult Solutions Inc. (ESI) provides insights into economic problems, policy questions, and strategic thinking. Our work focuses on providing customized economic expert services in Real Estate, Transportation, Economic Development, and Public Policy and Finance. In addition, we provide Litigation Support services in over 40 industries, as well as customized Solutions to a variety of clients. – See more at: https://econsultsolutions.com/
To download the report, click here.