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News About the American Recovery and Reinvestment Act

Alaska Journal of Commerce - Stimulus money to pave the way on Alaska projects
Alaska will be officially under construction for months to come as hundreds of millions of dollars in federal stimulus money heads North.

The state stands to receive roughly $929 million in stimulus money, though the number is still fluctuating, according to state officials.

A total of $267 million is slated for transportation projects, [Karen Rehfield, director of the state office of management and budget] said. Of that, $176 million is for roads, bridges and culverts, while $82 million is to go toward airport construction statewide and $9 million toward transit programs.

Some $94 million in federal stimulus money is already obligated for 'shovel ready' projects, according to officials with the Alaska Department of Transportation.
Rehfield said DOT estimates that 10 to 15 jobs are created for every $1 million spent on construction projects. 'So this will really help boost the economy,' she said. [Read More]

Las Vegas Review-Journal - Road projects costing less
There's something to be said for spending money in a down economy: You're sure to get some good deals.

So far, five of the projects that state transportation gurus have selected to receive federal stimulus money have been bid lower than the original estimated cost.

The first project to go out to bid, a paving preservation project on Interstate 80 in Pershing County, came in at $12.4 million -- $7.6 million less than the original estimated cost.

Nevada received $201 million for transportation projects from the American Recovery and Reinvestment Act of 2009. [Read More]

Savannah Morning News (Georgia) - Start your business now ... seriously
A recent study from the Ewing Marion Kauffman Foundation found, however, that more than half of the companies on the 2009 Fortune 500 list were launched during a recession or bear market. That's in addition to nearly half of the firms on the 2008 Inc. list of America's fastest-growing companies.

The American Recovery and Reinvestment Act attacks several problems facing small businesses by reducing fees, guaranteeing a greater share of certain loans, expanding capacity in the Microloan program, providing new loans to help small businesses keep their doors open through economic hardship, as well as new mechanisms to help unfreeze the secondary markets for SBA-backed loans. [Read More]

Skagit Valley Herald (Washington) - Stimulus package creates jobs for young adults
A.J. Zartman, 17, of Birdsview, and Clyde Nunley, 19, of Concrete, corralled a spring run of chinook salmon at the Marblemount Hatchery on Thursday. Their summer jobs are funded through an American Recovery and Reinvestment Act program employing young adults 16 to 24.

All six of the young men had been looking for summer work, and they said they were lucky in most cases if they actually received a phone call after they applied.

So when the American Recovery and Reinvestment Act sent $19.9 million to Washington to employ people ages 16 to 19 for seven weeks over the summer, Stout was ready to take as many as the Skagit County WorkSource office could find for him. [Read More]

Star-Tribune (Virginia) - Virginia's State Energy Program awarded $28 Million
U.S. Department of Energy Secretary Steven Chu recently announced $28 million in Recovery Act funding to support energy efficiency and renewable energy projects in Virginia.

Under DOE's State Energy Program, Virginia proposed a statewide plan that prioritizes energy savings, creates or retains jobs, increases the use of renewable energy, and reduces greenhouse gas emissions. This initiative is part of the Obama Administration's national strategy to support job growth, while making a historic down payment on clean energy and conservation.

After demonstrating successful implementation of its plan, the state will receive more than $35 million in additional funding, for a total of more than $70 million. [Read More]

Daytona Beach News Journal (Florida) - Stimulus package provides summer jobs with a twist
Thousands [of teens] are picking up shovels, brooms and trash in part-time jobs paid for with federal stimulus money, which includes $1.2 billion for youth employment.

Stewart is one of 25 extra seasonal youth hired with stimulus funds by the Mile High Youth Corps, an AmeriCorps affiliate.

The Center for Business Excellence in Daytona Beach hired 350 teens in Volusia and Flagler counties for its new 'Paid Summer Experience Program' for ages 16-24 funded by stimulus money. The center is a private nonprofit organization serving the work-force employment and training needs of the two-county area. [Read More]

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