USA Today reports that the FAA will be required to distribute $1.1 billion in stimulus funds to be used for airport construction projects quickly, with half of the money to be distributed within 120 days. The rest of the funds must be distributed within a year.
“It’s an additional billion dollars. That’s tens of thousands of jobs,” says Todd Hauptli of the American Association of Airport Executives, of the infusion of airport construction dollars. “We believe airports could have spent even more money than Congress made available, but it’s a significant increase in infrastructure investment.”