The macroeconomic impact evaluation of the Michigan Climate Action Plan was summarized in this report that completed the analysis of the Michigan Climate Action Council by projecting the statewide individual and collective impacts of 20 consolidated options that covered the majority of the greenhouse gas emission reductions of the original 54-policy option on gross state product, output, income, employment, and prices between 2009 and 2025. The quantified Michigan Climate Action Council policy options were divided into four policy sectors (Energy Supply, Residential, Commercial and Industrial, Transportation and Land Use Management, Agriculture, Forestry and Waste Management) and the analysis suggested that going forward with all council policy options would stimulate economic growth in Michigan. On a net present value basis, implementing all policies was projected to increase gross state product by $25.3 billion and expand employment by about 130,000 full-time equivalent jobs by year 2025. Of the sectors evaluated, the Residential, Commercial and Industrial sector policy options generated the largest net savings; contributing most of the positive returns in gross state product.
The Center for Climate Strategies – The Macroeconomic Impact of the Michigan Climate Action Council Climate Action Plan on the State’s Economy [full PDF]