President Barack Obama signed the $787 billion stimulus bill Tuesday, green-lighting a number of shovel-ready construction projects. Immediately after the stimulus package’s approval, Missouri became the first state to use the stimulus plan as workers began construction on a rural bridge 30 miles southwest of Jefferson City, in addition to three other highway projects. The stimulus package provides for $48 billion in transportation investments. To see a breakdown from the American Road and Transportation Builders Association, click here: http://www.artba.org/pdf/ARTBA%20ARRA%20Summary%202-17-09.pdf.
The $135 billion in construction and infrastructure included in the stimulus legislation will create or save nearly 2 million jobs over the next two years, says Ken Simonson, economist, Associated General Contractors of America. Simonson and Stephen Fuller of George Mason University say the funding will create or save 650,000 construction jobs and 300,000 jobs in related fields, as well as an additional 970,000 jobs to support the investments. To view the anticipated state-by-state jobs impact, click here: http://www.whitehouse.gov/assets/documents/Recovery_Act_state-by-state_jobs_2-131.pdf.
AGC has developed a summary of the American Recovery and Reinvestment Act’s provisions for infrastructure and public building investments. To view the summary, visit http://newsletters.agc.org/newsandviews/files/2009/02/stimulus-infrastructure-investment-chart3.pdf.
The Wall Street Journal has posted a list of spending provisions approved in the package. To view the chart, click here: http://online.wsj.com/public/resources/documents/STIMULUS_FINAL_0217.html.
For additional links and information, visit the Construction Media Group’s blog at http://constructionpundit.equipmentworld.com/.