The executives, who represent companies that have started up and moved to California because of the state’s clean energy leadership, reiterated an earlier LAO report that said the Texas oil companies dirty energy proposition would cost the state jobs by hurting the growing clean tech industry.
“AB 32 has made California a magnet for clean tech entrepreneurs and businesses – it is one of the main reasons my company, Sungevity, located here,” said Danny Kennedy, President and Co-founder, Sungevity in Oakland. “Hundreds of thousands of jobs are being created and billions of dollars are being invested because of the vast economic marketplace developing for clean technology.”
“The LAO missed the boat on this study,” said Tom Soto, Managing Partner, Craton Equity Partners in Los Angeles. “As a clean technology investor who has seen dozens of companies and investments come to California, I know first-hand that businesses and jobs are attracted to the state because it is where the customers for clean technologies are located. And it is AB 32 that is providing the roadmap for the state and consumers to follow. As other states and the federal government waffle about their commitment to renewable energy and technologies, California has become and remains the cradle of this fast-growing industry. It is why we’re the national leader in clean tech jobs, companies, and investment.
“The LAO study ignores the fact that companies like ours are moving to California because laws like AB 32 are creating enormous market opportunity for clean energy, and also providing strong background of clean tech business,” said Sung Joon Kang, Senior Managing Director, N Solar Inc. in Sacramento. “Because of California’s consistent policies and efforts, California is now well known to clean tech industry as a global leading innovative place of clean tech technology and business. Many companies like us are now seriously considering California as a strong candidate place to open a new business of clean tech. We looked all over the U.S. to locate a plant that will employ 150 workers initially and several hundred workers in the future and chose California largely because of its clean tech leadership in the aspect of consistent policy, strong technology background and huge market potential. The clean tech industry is one of the few bright spots in our economy because of environment-friendly laws like AB 32.”