Energy Master Plan Press Conference

Statement from Joan Verplanck, President, New Jersey Chamber of Commerce

October 22, 2008

Although the activities on Wall Street and their impact on New Jersey have taken center stage as of late, the issue of reducing greenhouse gas emissions and forwarding alternative energy must remain a priority because it so critical to the health of present and future generations, as well as the state's economy.

The Chamber testified over the summer in favor of New Jersey's energy master plan because it is a forward thinking document that takes into account the changing world in which we live.

The energy master plan recognizes that in order for the burgeoning green economy to flourish, those companies and workers looking to get in on the ground floor of this revolutionary sector must be provided with incentives to grow.

This is accomplished though the expansion of the Edison Innovation Fund, increased job training programs and the establishment of the Energy Institute of New Jersey.

This green sector is not a major factor right now but five to 10 years from now its impact will be immense, with many people working in jobs they know nothing about today. This is very similar to the explosion of the computer and technology industries in the 1980s.

Just yesterday, CNBC financial analysts were talking about the next bull market and what will propel it. According to them, future economic prosperity will be tied to those manufacturing wind farms, photovoltaic cells, nuclear power plants, hybrid cars and other green products and technologies.

Already, solar energy demand is up more than 50 percent over last year and an estimated 5 million green collar jobs nationally are expected to be created over the next decade.

I commend Governor Corzine and all those who were instrumental in formulating the energy master plan. Its greenhouse gas emission goals are noteworthy and should be applauded.

As an advocate for business and job creation, I can't help but to be equally as pleased with the emphasis the plan places on spurring investment, creating jobs and preparing the workforce for the many opportunities associated with the green economy.

Click here for more information on the Energy Master Plan.

Oct. 22, 2008