Governor Corzine Builds Upon Aggressive Plan for New Jersey's Economic Recovery with Details on Developing NJ's Green Economy

Governor Corzine Builds Upon Aggressive Plan for New Jersey's Economic Recovery with Details on Developing New Jersey's Green Economy 

JERSEY CITY – Building upon his message of economic recovery, Governor Jon S. Corzine today addressed participants in New Jersey’s Clean Energy Conference to detail his plans to provide immediate and long-term job growth by investing and developing New Jersey’s green economy.  

“One of the cornerstones of my economic stimulus plan is an investment in changing our energy future by converting the challenge of a ‘carbon-constrained’ future into an opportunity to drive a clean energy future fueled by innovation, economic opportunity, local job growth, and environmental fortification,” said Governor Corzine.

The fourth annual New Jersey Clean Energy Conference, held in Jersey City with a theme of Investing in a Clean Tech Economy, brought together more than 700 business leaders, clean energy market participants, and Wall Street investors to talk about the future of cleantech investing in New Jersey, and discuss clean energy investment and financing strategies that will help drive economic growth, create new jobs, and protect the environment in New Jersey. 

“I really believe you are all on the frontlines of another technological revolution—like the generation before you that moved the computer capacities by light years; preceded by those involved in the space race before that; dating all the way back to the inventors of the steam engine and the era of industrialization,” the Governor said.  “All of those eras, and their innovators, not only solved the pressing problems of the day, but their work spawned significant and unexpected technological byproducts that fostered America’s preeminence in the world and generated robust economic growth.”

In his address, Governor Corzine explained his plan to drive immediate green job growth by calling for the public and private sectors to work together over the next year to invest nearly $1 billion in energy efficiency and renewable energy.  That $1 billion public-private investment includes:

·        Calling upon New Jersey’s electric and gas utilities to invest $500 million in utility energy efficiency programs for residential and business customers over the next year. 

·        Maximizing the substantial investment of $462 million that New Jersey’s Clean Energy Program has planned for the rest of this year and all of next year specifically for renewable energy and energy efficiency.

·        Working with the Legislature to pass Energy Savings Improvement legislation that would allow $80 million of private sector investment in schools, towns, counties, and public colleges and universities. The companies doing the work would be remunerated through the recaptured energy savings. During the first year of this program, this investment would generate $20 million in energy savings and 500 jobs.

In addition to discussing these immediate-term investments and job creation, Governor Corzine also discussed the longer-term jobs that will be created through New Jersey’s Energy Master Plan, which will be released next week.

“Meeting the aggressive targets that the EMP will lay out for energy efficiency, renewable energy, demand response and new generation will require the immediate development of green collar jobs in New Jersey, for a total anticipated creation of at least 20,000 green collar jobs between now and 2020,” said Governor Corzine.  “At a time when jobs are being cut all over the country, investments in the clean-energy industry represent just the type of ‘jobs program’ we need in New Jersey—money-saving, pollution-cutting, and technologically innovative.

“By driving New Jersey’s Clean Tech Economy, we will be taking the unprecedented opportunity to position our state to compete in the regional and global green economy.”

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