"Job creation" is becoming a bit like teen sex. Everyone claims to be in on the action, but only a few are, and even then not very effectively.
As our economy teeters and nearly one in five New Mexicans is under- or unemployed, we hear regular pronouncements about jobs and economic development. However, there remains a disconnect between rhetoric and actual plans to create those new jobs.
That is why I was heartened this week when I read Mayor Coss' plan to get Santa Feans back to work. He issued a substantive action plan that has a firm foundation, one that will create long-lasting, high-paying jobs for our community.
The mayor is proposing to create 4,000 jobs, with a significant portion coming from clean energy, energy efficiency and green building. This is smart thinking because the economic engine that will power tomorrow's economy is going to come from renewable energy. Other countries are recognizing this, and they are seizing the moment and racing ahead.
The United States — the dominant leader in renewable energy even 10 years ago — now ranks behind Germany, Spain, Japan and China in solar-energy production and manufacturing. Over the last decade, China has created more than 1 million clean-energy jobs, and is adding more than 100,000 jobs a year. With our wealth of solar and wind resources, New Mexico is perfectly positioned to create clean-energy jobs and businesses. But we need leadership, and we need to act now.
Even though New Mexico has the second most plentiful resources in the country, our state ranks around 40th in installed renewable energy, and we lag behind many states in efficiency programs. We sorely need government leadership that will trigger larger private investment and usher in a new energy economy. Mayor Coss' plan prioritizes energy efficiency, and this is a wise first step. Right now for every dollar Santa Feans spend on energy almost 90 cents leaves our community. That's money that goes to energy companies, coal companies, the Middle East and Wall Street.
The plan also calls for more locally produced energy from solar, wind and biomass resources. This means instead of purchasing dirty coal power, we will be generating clean energy that fosters local jobs.
By investing in energy efficiency and local energy, we create jobs for our neighbors who live and work here. Most importantly, we help people save money on energy, which keeps money in our local economy. These are dollars that will be invested and recycled in Santa Fe.
These dollars will multiply in value to the community as they are spent locally for housing, food and other supplies. Calling this the multiplier effect, economists estimate that each energy dollar that stays in the community circulates through the economy five to 10 times.
The ingredients for success are at-hand. Mayor Coss has put together a cogent plan that prudently uses city funds to leverage much larger federal grants, stimulus funds, and private investment.
Dr. Fogarty is a local physician who serves on the New Mexico Workforce Development Board.
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