The Bloomberg Administration has announced that it plans to spend $80 million implementing new technologies to increase energy efficiency and cut greenhouse gas emissions throughout the city. Some of the ways that are being applied include installing energy-efficient lighting systems in city-owned buildings and replacing 200 city vehicles with hybrid cars.
These changes are in line with the mayor's mission to make New York a "green" city. However, Bloomberg is currently being slammed in certain media outlets and within the government, because for the first time in five years, he has implemented a hiring freeze at city agencies, and is looking for other cuts as well, while the economy is taking a breather.
In defense of the mayor, it's never a bad thing to freeze hiring at any government agency, whether local, national or federal. Fewer bureaucrats around is not the worst thing in the world. What detractors fail to realize, is that from both an economic and environmental point of view, targeting funds for green and sustainable technology is not freewheeling spending, but an actual investment in the future. It's a bit easier to see
this truth in terms of reducing carbon emissions.
However, the real economic incentives for a cleaner and more efficient city are a healthier workforce, less dependence on foreign sources of energy, and a more attractive place for businesses to move into.
All things being equal, this is a net increase in New York City's valuation as a place to do
business.
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