Did you know that residents of Green building are experiencing fewer sick days and much more productivity? Research suggests that not only are green buildings better for the health of tenants; tenants are much less likely to vacate green building than their non-green counterparts.
The research, conducted by University of San Diego in collaboration with a local commercial real estate broker group, concluded that tenants in green buildings are more productive according to two criteria; first being the number of sick days that they take and the second being a change in their productivity level. There was an average of around three lesser sick days in a green building than in a non-green building. Even though, it is easy to put this much difference in the column of placebo effect, an entire office being affected by it is a significant fact in itself.
The research was based on coverage of 154 buildings in the survey that makes sum total of 51.6 million square feet with three thousand tenants. This covered ten markets across the US where the criterion to be considered a green building was a LEED certification to go with EPA energy star label.
With these statistical variables in mind, around fifty-five percent of tenants responded that employee efficiency has increased. The net impact of this productivity was around $5 per square foot per year. With increase in productivity translating into $20 per square foot, these buildings have thirteen percent higher rental rates and around three percent lower vacancy rate.
Another research that was conducted by the U.S Green Building Council in collaboration with Booz Allen Hamilton, regarding the impact of constructing green buildings and converting non-green buildings into green building on US economy. Results showed that such projects will support 7.9 million jobs and put $554 billion back into American economy in next four years. Green construction, at this point, is supporting two million American jobs and generates around a hundred billion in gross domestic wages and products.
From 2000 to 2008, the impact of green construction was $178 billion according to the study. It rescued over 2.4 million jobs with $123 billion in wages generation. U.S Green Building Council has ambitiously humble plans that they shared at the release of these reports; Rick Fedrizzi, chief executive of this group said; “Our goal is for the phrase ‘green building’ to become obsolete, by making all building and retrofits green – and transforming every job in our industry into a green job.”
Source: www.businessweek.com
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