Construction sector to drive growth
In the opinion of the EU Commission, the construction sector may become a motor to create new jobs in the union. Subsidising low-energy buildings is to be the key. Loans of around EUR 120 billion made available by the European Investment Bank in June 2012 for the Growth and Employment Pact are to be increasingly used for this purpose.
EU Commission Vice President Antonio Tajanie presented his growth strategy on
31 July 2012: "In times of severe economic and social crisis, low-energy buildings are a secure and sound investment opportunity for society and for private investors. The construction industry should consider this an opportunity for innovation and to recruit young talent. Innovative technologies harbour tremendous potential, not only for new construction but also for millions of existing buildings that are to be made highly energy efficient by means of renovation, meeting the targets of the 'Europe 2020' strategy."
The competitiveness of the construction industry has the potential to exert significant influence on overall economic development in the EU. After all, the construction sector currently generates ten percent of the GDP and employs 20 million people, mostly in small operations.