DRILLING FOR GREEN CAPITAL: A Policy Study on Stimulating a Green Economy in the State of Texas
Abstract
Policy at the state level plays a vital role in shaping economic growth. Some states,
such as Pennsylvania, have actively enacted policy to stimulate a green economy.
This report is a comparative case study of existing policy mechanisms for economic
development in Pennsylvania and Texas. Pennsylvania has focused on economic opportunities
in environmental initiatives, such as brownfield redevelopment and the cleantech industry.
The Keystone Principles and Keystone Green Investment Strategy are examples of key
policy tools utilized in Pennsylvania to stimulate the economy and conserve natural
resources. Texas has a very strong economy, but relies heavily on energy intensive
industries. The state has a strong policy agenda of economic development and business
recruitment. The date collected for this case focuses on these strengths. Policy
mechanisms that have built the state’s economy include the Industry Cluster Initiative,
the Economic Development Bank and the Texas Enterprise Fund.
The Pennsylvania case study data is used to develop recommendations on how to design
and deploy incentive structures for green businesses in the State of Texas. The
policy study discovers existing programs in Texas correlate with Pennsylvania’s policy
mechanisms. A key element in Pennsylvania’s programs is environmental criterion to
conserve natural resources, a ‘green criteria’ or ‘green objective.’ The purpose
of green criteria is to weigh in on the environmental impacts of economic activities.
Three recommendations are presented for Texas:
1. Incorporate a green objective in the Industry Cluster Initiative.
2. Target business services to address critical needs in green sectors.
3. Create an Energy Office in Texas’ environmental protection agency.
These recommendations incorporate green objectives as enhancement strategies into
existing programs. Instituting a green objective economic development will an important
direction for Texas to maintain its competitive advantage on the global market in
recruiting green businesses.
Type
Master's projectPermalink
https://hdl.handle.net/10161/1026Citation
Young, Kristine (2009). DRILLING FOR GREEN CAPITAL: A Policy Study on Stimulating a Green Economy in the State
of Texas. Master's project, Duke University. Retrieved from https://hdl.handle.net/10161/1026.Collections
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