Study: Cleantech Adds $2.5 Billion To Economy In Austin

A new study, announced at Austin City Hall on Wednesday morning by Mayor Steve Adler, finds that the clean technology industry contributes $2.5 billion in GDP to Austin, and employs nearly 20,000 employees, and is expected to continue to grow. The report--from CleanTX, along with the Austin Technology Incubator--is the first report by the group to attempt to quantify the clean technology sector's impact on Austin. The report projects that cleantech employment in the area is expected to grow 11.24 percent by 2020, with growth specifically in renewables, smart grid, smart cities, vehicles, water, recycling and manufacturing. The report credited Austin's technology community, combined with its proximity to global energy hub Houston, for helping to drive the clean technology industry in the city.