Climate researchers: Michigan set for "economic boom" due to Inflation Reduction Act
A new study says Michigan could see a dramatic influx of new jobs and economic growth due to the Inflation Reduction Act. The Act is investing $370 billion nationwide to fight climate change.
Clean energy research firm RMI says Michigan could attract $26 billion in green energy investments if it takes full advantage of the Inflation Reduction Act. RMI Senior Principal Aaron Brickman said the state could also create 34,000 new clean energy jobs.
"Michigan is poised for an economic boom," said Brickman. "That's in part due to Michigan being a huge legacy manufacturing location that has the knowledge, highly skilled workforce, and resources to take advantage of the clean energy transition."
Brickman said the Whitmer administration has an aggressive clean energy strategy already in place.
"What's great to see is that Michigan's governor and the Michigan Economic Development Corporation are going all in to attract new EV and battery manufacturing facilities. There's a strategy, there's a plan, and the benefits are already being seen."
Ashna Aggarwal is an associate with RMI's U.S. Program. She said Michigan could further maximize its IRA funding potential by following the example of Minnesota, which has passed a law mandating a 100% carbon free standard for electricity.
"Michigan passing something like that would really be a tremendous step for the state," she said.