Recycling Benefits to the Economy
There are many recycling benefits to the economy. As you will learn in a while, it definitely makes perfect business or economic sense to recycle products that can be recycled.
Recycling saves money
There are many economic benefits of recycling, one of which includes saving money.
It is cheaper to make products using recycled materials.
For example, using fresh aluminum costs twice as much as using recycled aluminum. This is because a lot more energy (ie. 90% more) is needed to extract aluminum from its raw forms (see more about recycling statistics). Subsequently, products that are made from recycled materials can also be purchased at a cheaper price. Isn’t this one marvelous recycling benefits!
Recycling benefits the economy by also reducing expenditure in other ways.
As more items are reduced, the amount of waste that needs to go to the landfill or incinerator is also reduced. Through recycling, communities can save on their waste disposal costs (eg. landfill costs), which can be very expensive. In addition, through the sale of the recycled materials, communities can also offset the cost of their waste disposal, thereby further reducing their expenditure.
Subsequently, acres and acres of landfill space can be saved, and be diverted for other uses. In countries where land is scarce, saving on landfill space could mean savings by the million, and in fact earnings, if the land can be used for other revenue-generating functions.
With recycling, everything can be used to its maximum potential. Nothing is wasted. Such cost-effective practices not only saves money, but the environment and our resources too.
Evidently, recycling benefits the economy and beyond!
Recycling creates jobs and generates revenue
In addition to the above recycling benefits, recycling brings other benefits to the economy.
Recycling creates new businesses such as for transporting, processing and selling recovered materials as well as companies that manufacture and distribute products made with recycled materials.
And in turn, jobs are created. When you recycle, more jobs are created than when you merely discharge your waste. Dumping 10,000 tons of waste in a landfill creates six jobs while recycling 10,000 tons of waste creates 36 jobs.
Unlike jobs in waste disposal, jobs in the recycling industry add value to the materials, as such contribute to a growing labour force of skilled workers, such as material sorters, dispatchers, truck drivers, sales representatives, process engineers and even chemists. Many of these jobs pay above the average national wage and many are in urban areas where jobs are desperately needed.
In California, waste recycling and management rank higher on the economic and job creation scale comparable to the state’s entertainment industry. Through recycling, a mainstream industry comprising 5,300 business operations and employing more than 85,000 workers has been created in California. Overall, $4 billion in salaries, along with $10 billion worth of goods and services, is generated each year.
And in the United States, according to the U.S. Recycling Economic Information Study, there are more than 56,000 recycling and reuse establishments in US and they employ approximately 1.1 million people. This number of workers is comparable to the automobile and truck manufacturing industry in the region, and is significantly larger than the mining and waste management and disposal industries there. In addition, wages for workers in the recycling industry are notably higher than the national average for all industries. Overall, annual revenues of about $236 billions are generated.
Other than creating new businesses and jobs, recycling benefits the economy and generates revenue through material sales as well.
There is definitely a market for recyclable materials and the returns on investments in the recycling industry can be quite high. Communities can make money by selling some of their recyclable materials.
There are countries that do not have their own natural resources and forests, but import waste material, such as paper, as raw material for their manufacturing industries.
For example, countries like China, South Korea and Japan import recycled paper or waste paper, and are able to depend upon the low-cost, economically viable options of recycling to cope with the storage of natural resources in some regions.
And as the market for recyclable materials increases, the revenue generated within the industry increases as well. So recycling is not only good to the environment, but also to our pockets as well!
Since there are so many recycling benefits to be derived, why not recycle now?
Recycling as a promising industry
Indeed, the recycling business sector is growing and developing into an extremely promising industry.
As a sunrise industry, it certainly has a lot of potential for flourishing and generating jobs and revenues worth millions.
If every household, community, city, state, and nation thought along the same lines, and invested a little time and effort into sorting out waste at home, office and community, imagine how much recyclables would be available to the recycling industry! And it would mean that almost every single item used and thrown can be recycled!
The recycling industry is now limited, mainly to paper, glass, plastic, aluminum, and other metals.
But if more research can go into discovering creative and productive ways of recycling more products (and even alternative sources of energy), it would certainly save this planet more resources, and from pollution. As well as save our countries money, and help us earn money!
The recycling benefits to the economy cannot be doubted!
But that is not all. Read more about how recycling benefits the environment and the political and ethical reasons for recycling!
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