Advocates Say the BBI Can Create Jobs and Reduce Debt

Create Jobs
Create Jobs

One government initiative could not only save the commercial real estate market, but also create more than 300,000 jobs, increase property value and boost tax revenue, putting money back into federal, state, and local coffers, according to an independent analysis conducted by Architecture 2030. It's called the Better Buildings Initiative (BBI).

The president's BBI plan, unveiled early last month, leverages a commercial building-efficiency tax credit of 60 cents to $1.80 per square foot for meeting energy reductions of 20 percent to 50 percent below the standard. Architecture 2030 reports that for each $1 billion in BBI commercial building-efficiency tax credits, the program will generate $16.4 billion in new private spending and $3.6 billion in new federal tax revenue.