New report projects economic growth and cost-savings in Michigan from clean energy package

BERIEN COUNTY, Mich. -- Michigan Governor Gretchen Whitmer highlighted a new report from 5 Lakes Energy, which projects the clean energy package signed into law last year, combined with the Biden-Harris Administration’s Inflation Reduction Act, will drive significant economic growth and cost-savings throughout the state.

By 2030, the report states the energy package and federal investment will drive household energy bills down by $297 a year, secure $15.6 billion in federal funding, and save $7.3 billion in public health costs, while making progress towards the MI Healthy Climate Plan.

“Michigan is building the future of cars, chips, and clean energy, driven by our world-class manufacturing capabilities, talented workers, and unmatched grit,” said Whitmer. “Thanks to the Biden-Harris administration and the historic clean energy package we passed last year, we’ll be able to continue lowering household utility costs, create thousands of good-paying jobs, and bring more federal tax dollars home to Michigan for clean energy projects. I am so proud to have signed laws that’s helped us create high-skilled, good-paying jobs, bring supply chains home, lower our dependence on foreign fuels, and build a bright future for our state.”

The report splits Michigan's prosperity regions into ten distinct geographic areas defined by the state of Michigan to organize and streamline economic development efforts.

The regions have unique characteristics which inform specific responses to support local communities.

Southwest Michigan is Region 8 and includes Berrien, Branch, Calhoun, Cass, Kalamazoo, St. Joseph, and Van Buren Counties.

According to the report, the clean energy legislation is projected to:

• Create 4,316 new jobs by 2030; 7,294 by 2040
• Grow GDP by $591,682,572 by 2030; $1,104,041,476 by 2040
• Deliver federal tax credit investment of $1,454,673,839 by 2030; $2,824,111,362 by 2040
• Save $251,577,331 in public health costs by 2030; $988,726,103 by 2040

“When we invest in our clean energy sector, we both strengthen Michigan’s economy and ensure our state remains a prosperous home for generations to come,” said state Representative Joey Andrews (D-St. Joseph). “These clean energy jobs will help communities independently sustain themselves with homegrown, renewable energy. I am happy to see these employment opportunities expand across Southwest Michigan, allowing more working people to support their families.”

You can view the full list of projections for the state's districts online.

You can view the full 5 Lakes Energy report online.