Green Exchange an example of revitalizing the economy
Monday, November 17th, 2008With a green-conscious Chicagoan about to become president, new building initiatives and flourishing gardens, Chicago is leading the nation in crafting a sustainable future. A prime example of this is the Green Exchange, located in Logan Square on the city’s northwest side. Angela Caputo, of ProgressIllinois.com, writes “the Green Exchange is emerging as an example of how — with a little federal support, the backing of local officials, and some ingenuity — a revitalized economy could be just around the bend” (Nov. 11, 2008). Green Exchange is a new, sustainable office/retail complex set to open in Spring, 2008. It will host a variety of green tenants including businesses, shops, a cafe, day care center, bank, dry cleaner and other amenities. “What’s innovative about the project,” Caputo writes, “is its ability to harness the kind of public and private capital that researchers, economists and environmentalists say is key to cultivating a national green economy.” Incoming businesses will have access to a $500,000 loan pool, used for hiring and training workers. These low-interest loans are designed to help small business grow and create jobs despite the faltering economy. This investment alone allows for 58 jobs to be created. The article continues, using this model as an example for nationwide change: “…imagine what could be accomplished by investing billions across the nation.” According to The Center for American Progress, a $100 billion federal investment could create two-million green collar jobs in two years, the article states. Green Exchange’s Jennifer Schellinger said, “we want to show that something like the Green Exchange is possible in every state in the nation.” Find out more about the Green Exchange on our client page.
