Leaders from 115 of our country's foremost business and technology companies announced their support for investments in a smarter energy grid, health care IT, and deploying high speed broadband across America--investments that are all part of the American Recovery and Reinvestment Act.
In a letter to Congressional Leaders, the companies predict such investment in America's IT infrastructure is expected to create more than 949,000 new jobs.
From the letter:
“Investments in America's digital infrastructure will spur significant job creation in the immediate term. An investment of $40 billion in America's IT network infrastructure in 2009 will create more than 949,000 U.S. jobs, more than half of which will be in small businesses, according to the Information Technology Industry Foundation (ITIF).
“Congress and the new Administration face a formidable task, restoring the nation's confidence and encouraging the innovation, risk-taking and entrepreneurship needed to get our country moving again. The investments in a smarter energy grid, health care IT (such as electronic medical records) and accelerating broadband deployment recommended by President Obama will not only stimulate the economy, but will also accelerate long-term growth. They fund the future.
“An investment of $40 billion, which we believe is a critical starting point, also promises to increase productivity and competitiveness over the long-term. Information and communications-enabled technologies improve energy efficiency, help doctors save lives and money in health care, catalyze new business models and entrepreneurs, enable educational improvements and empower individuals to take more control over their lives. Those nations with the most advanced digital infrastructure will reap the largest benefits and lead in next generation jobs, services and companies…” [Letter to Congressional Leaders, 1/21/09]
Next week, the House will vote on the American Recovery and Reinvestment Act, working from priorities shared with President Barack Obama.
The plan will create and save 3 to 4 million jobs, jumpstart our economy, and transform it for the 21st century.
Unprecedented accountability and transparency measures are built in to help ensure tax dollars are spent wisely. $550 billion is strategically targeted to priority investments; $275 billion in targeted tax cuts will also help spur economic recovery.