Cap-and-Trade Measure Good for Job Creation Says Clean Transportation Tech Industry Organization

PASADENA, CA--(Marketwired - July 25, 2017) - An industry group representing more than 175 clean transportation technology companies said the bipartisan vote by the legislature and today's approval by the Governor to extend California's greenhouse gas Cap-and-Trade program will be create jobs and promote sustainable economic development.

In a ceremony today at Treasure Island, Governor Jerry Brown signed two related bills, Assembly Bill 398 (E. Garcia - Coachella) and Assembly Bill 617 (C. Garcia - Downey) that would extend the state's current Cap-and-Trade program through 2030 while also expanding monitoring programs for air pollution and directing the California Air Resources Board to develop a plan to improve air quality in the surrounding communities.

"California is currently leading the nation in terms of clean transportation technology job creation. By extending this important program through 2030, the state is creating a stable policy environment that will result in further job growth and economic development," said CALSTART President and CEO, John Boesel.

Since the greenhouse gas Cap-and-Trade program was established, approximately 20,000 new clean transportation technology jobs have been created in California, according to CALSTART. The state has invested a portion of the Cap-and-Trade revenues to spur the market for cleaner cars and trucks.

"The state has been smart to use the Cap-and-Trade program funds to provide vehicle purchase incentives and support additional technology development. It's no coincidence that during the course of this program Tesla has become the largest manufacturer in California, and companies have moved from both China and South Carolina to California to produce electric buses," said Boesel.

"Looking forward, to not only sustain the growth of the industry, but also clean up the air, the legislature and the Governor must continue to invest in the low carbon transportation sector. The market for zero and near zero emission cars, buses, and truck is still in its early stages," Boesel said.

Over the past seven months, CALSTART worked closely with its member companies and others to educate the legislature and the Governor about the benefits of the Cap-and-Trade program. In early June, CALSTART submitted a letter signed by nearly 70 leading clean transportation companies and business associations expressing support for the extension of Cap-and-Trade program.

The signatories ranged from an international oil company, Neste, to Southern California Edison to Tesla Motors to the Silicon Valley Leadership Group. The letter said that ongoing uncertainty around the future of the program was hampering investment.

CALSTART is a national non-profit organization headquartered in California. The organization serves as a catalyst to accelerate the growth of the clean transportation technology industry as a strategy to create high quality jobs, improve public health, and prevent climate change. CALSTART has more than 175 member companies and offices in three states. For further information about CALSTART visit www.calstart.org.