New York pinched pennies with stimulus money, results in 34 new projects

Given the current economy, it seems like everyone is trying to make the most with the least. We’re all stretching our pennies, and the State of New York is no exception. According to a report in The Business Review (Albany), New York has saved enough money in awarding federal stimulus money that it can finance an additional 34 projects, state officials said.

Gov. David Paterson said competition in the construction industry is causing bids to come in lower than estimated. To date, infrastructure projects worth a projected $469 million have been put out to bid, according to the report.

The bids have totaled $402 million, which is a savings of nearly 15 percent, Paterson said in the report.