In this analysis, Cambridge Econometrics applied our E3-US macroeconomic model to quantify the economic impacts of decarbonization pathways for Wisconsin to inform policymakers about the job and gross state product implications of different scenarios.

Our Findings show that transitioning to a Net Zero economy will reap dramatic benefits for Wisconsin’s economy, creating 68,000 additional jobs and boosting Gross State Product by 3% in 2050. 

A major challenge in this transition is managing the changes in the labor market. While our analysis shows that the local labor market is well-positioned in aggregate terms, it is important that relevant services are offered to help workers to transition from fossil fuel-based activities to the new jobs and opportunities created in the clean economy. This will involve coordination between the fossil fuel firms as they reduce in scale, local actors such as the Wisconsin Workforce Development Boards, and the firms offering new jobs in the future.