Massive new climate law could give Pacific Northwest green businesses a boost

Companies large and small around the Pacific Northwest say they are excited by growth opportunities that may flow from the climate, healthcare and tax package signed by President Biden on Tuesday. Turbocharged federal spending could benefit the region’s green energy sector in particular, although congressional Republicans remain dubious that Americans on the whole will come out ahead.

The Democrats’ domestic spending package, officially entitled the Inflation Reduction Act, directs nearly $375 billion toward incentives and tax credits to increase renewable energy production and reduce climate pollution. The president of a small Seattle company that makes marine environmental monitoring gear said the Northwest is well positioned to capitalize.

“It’s a great turning point,” enthused Tim Acker of Biosonics. “We have so much here in the Pacific Northwest to support this. So, we see nothing but really positive times in the next ten years.”