The Impact of IMPACT: Creating Jobs in Ohio
February 24th, 2010
It is time for America to join the ranks of nations capitalizing on advanced and clean energy markets. This report examines the impact of one proposed federal program, the ‘Investment in Manufacturing Progress and Clean Technology Act of 2009,’ (IMPACT), which would create revolving loan funds for small- and medium-sized manufacturing firms investing in energy efficiency or retooling to make products for new energy markets. Analysis conducted by the Political Economy Research Institute of the University of Massachusetts, Amherst, shows that over ten years, IMPACT could create between 41,063 and 52,214 new jobs in Ohio.
Much economic development activity focuses on attracting new plants or growing new sectors. The focus of IMPACT, however, is on strengthening existing Ohio plants across manufacturing sectors. This is the most direct way to support Ohio workers, families and communities. Investment programs alone, however are not sufficient to jumpstart the industrial economy. National climate legislation with strong domestic content provisions is critical: without climate legislation new energy markets will grow, but overseas. It is the responsibility of the federal government to create a robust American market for advanced and clean energy that drives demand for products made in American manufacturing plants by American workers. IMPACT is the first step on a long road to rebuilding America’s manufacturing muscle.