Building a New Sustainable Economy

The Post-Carbon Economy

Louisville has done a good job of developing our economy on the strengths of diversity and geography. We have taken advantage of our geographic location to develop the city as a convention locale and a transportation hub. We have developed an economy of diverse businesses. That diversity of economic strength is seen in our growing healthcare sector and in companies such as Brown Forman, Ford, GE, Humana and UPS.

We must now position ourselves to attract companies that can thrive in a post-carbon economy. Those new economy, job creating companies demand a first-class public transit system, excellent neighborhood schools, calm traffic, bicycle friendly roads, clean air and water, a developing level of energy self reliance, and a healthy, well educated and engaged population. While we can promise wonderful and accessable parks and recreational facilities, some great neighborhoods, a great local food culture and wonderful arts, we do not have a good public transit system. We have been rated the seventh most dangerous community in the nation for pedestrians. We might send the children of the employees of the relocating company to a distant school rather than a neighborhood school. We are very nearly 100% dependent on none local fuels. Our sewers overflow into our creeks. We do not comply with the EPA's air quality standards. Our public health ranks poorly nationally. And our education achievement is low. We must address these failures in order to attract companies that will help build a resilient economy.

The challenge in redeveloping our economy as a low energy, clean energy, diverse, strong economy is great. Those status quo forces lacking foresight will offer tremendous resistance. More progressive established economic forces will lead Louisville to a more sustainable economy.

Conservation, energy efficiency and renewable energy will play a huge role in rebuilding our economy.

Cities are launching funding programs for private property owners (home owners and businesses) to finance property related conservation, energy efficiency and renewable energy improvements through voluntary property tax assessment (Property Assessed Clean Energy - PACE). In such programs each assessment will be paid in full within 20 years. The programs are administered by private business and privately funded at no cost to participating cities. (Google - San Francisco Sustainable Financing)

Alternatively, another funding mechanism which should be explored concerns carbon taxes. Carbon taxes on an a national scale are approaching. Louisville should take a lead in establishing a local carbon tax on coal burned in local power plants. The funds generated from the local carbon tax on coal power plants should be invested in renewable electrical power generation.

More efficient transportation will also contribute heavily to a more sustatinable economy.