Washington, DC (September 8, 2008) — Today the National Gay & Lesbian Chamber of Commerce (NGLCC) strongly urged lawmakers to extend the renewable energy tax incentives for the research, development and manufacturing of green energy products before they expire on Dec. 31, 2008.
"These incentives must be extended immediately to avoid significant harm to the developing clean energy industries in the United States," said Chance Mitchell, NGLCC CEO and Co-Founder. "A disruption of the incentives would lead to layoffs and a decrease in much needed private capital flowing to these industries," added Mitchell.
While some of the nation's largest corporations are involved in growing the green-energy industry, small businesses make up 90 percent of the renewable energy sector and lead the way in the harnessing of wind and solar power.
The NGLCC noted that green firms contribute about $900 billion to the economy annually and employ more than 11 million workers. In 2006, these small businesses hired eight million new workers. By 2030, the number is expected to reach 40 million employees, or 25 percent of the American workforce. The NGLCC noted that most of the jobs are in small business industries, including farming, construction and plumbing.
“If we are serious about energy independence we must act now to extend these vital tax credits,” said Justin Nelson, NGLCC President and Co-Founder. “Doing so is not only the responsible thing to do for a better environment, but it is the smart thing to do to create millions of new jobs, many of them in the small business sector,” Nelson said.
About the NGLCC:
The National Gay & Lesbian Chamber of Commerce is the business advocate and direct link between LGBT business owners, corporations, and government. The NGLCC was founded as the exclusive organization for certification of LGBT owned businesses, and works to foster mutually beneficial opportunities for small businesses and corporate members. The NGLCC represents the interests of more than 1.4 million LGBT businesses and entrepreneurs and is committed to forming a broad-based coalition of LGBT owned and friendly businesses, professionals, and students of business for the purpose of promoting economic growth and the prosperity of its members.
