Renewing Deferred Clean Energy Investments Will Lower Unemployment

The June unemployment statistics showed the economy gained only 80,000 jobs last month. Renewing the Production Tax Credit (PTC) and the Advanced Energy Project Credit (48c) are needed to overcoming tepid job growth over the past few months.

July 6, 2012

WASHINGTON, DC (July 6, 2012) Today, the Bureau of Labor Statistics released the June unemployment statistics, showing the economy gained only 80,000 jobs, and the unemployment rate stayed at 8.2 percent. The following is a statement from BlueGreen Alliance Executive Director David Foster:

“We still have a lot more work to do to create jobs and restore economic growth. Renewing our long term commitments to transportation projects by passing a 27 month transportation bill was a step in the right direction but we cannot stop there.

“Renewing both the wind industry’s Production Tax Credit (PTC) and the Advanced Energy Project Credit (48c) — a tax credit that was created to grow the domestic manufacturing industry for clean energy — are steps needed to overcoming what has been tepid job growth over the past few months. These proven job-creating investments will translate to millions of dollars in economic growth and thousands of jobs created and saved in both manufacturing and clean energy.”

“Both are components of our Jobs21! plan to create and save millions of good jobs. Today the average length of unemployment is 9 months, and that is far too long for families to go without a paycheck. Putting the PTC, 48c and the rest of our Jobs21! plan to work will put us back on a path to economic growth. We urge that Congress prioritize these important investments because we can’t afford to wait any longer.”