Providing life-changing investments for clean water, clean air and green jobs

Addressing environmental needs while providing economic relief for all New Yorkers

AECOM, working with Rebuild by Design, a leading advocate for resilient infrastructure, analyzed the economic impacts of a proposal to invest $4.2 billion in projects across New York State that would protect clean water, reduce pollution, conserve habitat and family farms, and reduce local climate risks. The Clean Water, Clean Air and Green Jobs Environmental Bond Act — the largest bond measure in state history — would give communities the resources they need to build infrastructure that addresses climate change and protects the environment for future generations.

A proactive approach to climate change and the state’s economic future

The Environmental Bond Act presents the opportunity to mitigate the challenges posed by climate change and protect the state’s drinking water and other essential natural resources, while providing a boost to New York’s economy, creating jobs and improving the lives of residents.

A pressing need for New Yorkers and the greater region

The team from AECOM and Rebuild by Design analyzed the benefits proposed in the bond act by assessing the economic impact of the anticipated investments and researching comparable projects and programs.

Our report, “Economic Impacts of the New York State Environmental Bond Act” — first released in 2020 and updated in 2022 with the new bond act proposal — concludes that the bond act could support 84,000 jobs in New York and result in an estimated $8.7 billion in project spending, broken into the following categories:

  • $4.1 billion for restoration and flood risk reduction, supporting 38,700 jobs in New York
  • $1.9 billion for clean water projects, supporting 20,800 jobs in New York
  • $1.7 billion to mitigate climate change, supporting 18,100 jobs in New York
  • $1.1 billion for open space land conservation and recreation, supporting 6,300 jobs in New York

Our research found that projects associated with these key categories of spending — from improving resilience and avoiding future costs from severe storms, to creating social and public health benefits for communities — are shown to be fiscally smart investments with potential to serve as a useful stimulus and spur long-term economic growth.

A seal of approval from the people of New York State

On November 8, 2022, New Yorkers overwhelmingly voted to pass The Clean Water, Clean Air and Green Jobs Environmental Bond Act. The ballot measure requires at least 35 percent of bond act funding to go toward projects that benefit disadvantaged communities, often those most impacted by pollution and climate change. A statement released on behalf of New York Governor Kathy Hochul concluded, “We are confident that this historic investment will create a better New York for future generations.”

AECOM’s Ali Chaudhry, senior vice president and chief of development and government relations for the U.S. East & Latin America region, joined a discussion on how the $4.2 billion authorized under this bond act will be spent. Listen to the podcast here.