Nov. 21, 2008 - The value of green building construction starts jumped five-fold over the past three years - and could triple to as much as $140 billion by 2013, according to McGraw-Hill Construction s Green Outlook 2009.

The report attributes green building's rapid expansion to growing public awareness of the environmental impacts of construction, an increase in government regulations, and recognition of bottom-line advantages. Since 2005, the reduction in operating costs of green buildings has increased from 8.9% to 13.6% followed by the increase in building values (10.9%, up from 7.5%).

"Green growth is phenomenal across the globe," says Harvey M. Bernstein, vice president of industry analytics, alliances and strategic initiatives, McGraw-Hill Construction. "The business opportunities afforded by green building, even in the midst of a global economic crisis, are real and recognized by industry players.

U.S. Green Building Council members also report the green building industry to be less affected by the down market compared to traditional construction sector, as homebuyers take advantage of new government incentives.

(It s not just the construction industry that's benefiting from the green building boom: U.S. architectural firms pulled in a combined $1.74 billion from green design projects in 2007.)

To order a copy of McGraw Hill's "Construction Green Outlook 2009," click here.