The Sustainable Business Network of Greater Philadelphia (SBN) released a report assessing the local economic effect over the first 5 years from implementation of Philadelphia Water’s Green City, Clean Waters (GCCW), the city’s 25-year plan to protect watersheds through stormwater management and green stormwater infrastructure (GSI). The long-term program addresses Clean Water Act regulations with decentralized, neighborhood scale, natural systems for combined sewer overflow control.
SBN’s report, executed by Econsult Solutions, revealed that local economic growth is occurring from public and private investments in GSI that are being catalyzed by the plan. According to a conservative estimate by Lee Huang, senior vice president and principal of Econsult Solutions, public and private investments in GSI are projected to produce a $3.1 billion impact in the Philadelphia economy over the life of GCCW, supporting roughly 1000 jobs per year and generating $2 million per year in local tax revenues.
The report also projected likely future results based on continued investment in GSI, evaluating the real estate market as well as neighborhood-level benefits that have come from public and private investment catalyzed by GCCW.