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Report: Green economy will create jobs in NY

Story Created: Sep 10, 2008 at 8:40 AM EDT

Story Updated: Nov 16, 2008 at 9:43 PM EDT

ALBANY, N.Y. (AP) - A new report says almost 132,000 new jobs could be created in New York state, and more than 2 million
nationwide, by making investments that aim to reduce dependence on
oil.

A coalition of business and labor and environmental groups released the report Tuesday. The report from a University of Massachusetts think tank wants to use $100 billion in federal money over two years for so-called "green" projects. New York's share would be about $7 billion.

The money would be spent on projects like weatherizing buildings, improving mass transit and making the electric-distribution system more efficient.

The plan calls for the money to come from a "cap-and-trade" program to require energy producers to pay for the right to emit carbon dioxide into the atmosphere -- an idea that passed the U.S. House earlier this year but died in the Senate.

New York has established a similar program with nine other states in the Northeast, which will be implemented early next year.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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