Stimulus: DOT momentum creating jobs, rebuilding infrastructure

As information about the economy comes out, it's easy to get impatient. But it’s important to remember that the Recovery Act is only 6 months old. The stimulus rolls out in stages; it has a lot of moving parts; and it’s absolutely essential that we get it right.

So far, the DOT has a great deal to show for our investments:

• Over 6,300 transportation projects have been approved.
• More than 2,700 road and airport improvement projects, and hundreds of transit projects, are under way right now.

We’ve got real momentum going here.

Sure, it's difficult to gauge the stimulus' effectiveness when we don't know how much worse off we'd be without it. But--make no mistake--the governors, mayors, planners, and contractors I talk to all agree that without these well-timed federal infrastructure investments, we would be in worse shape.

Here's a sample of job improvement from transportation spending alone:

• By May, Pennsylvania had added over 700 jobs; that figure is much higher today;
• The Maryland DOT hired back all of its laid-off workers;
• A single Massachusetts contractor hired over 300 workers.

Now, I understand the restlessness many feel about the economy; I understand the enormous responsibility taxpayers have entrusted to us. But, the perception that we haven’t moved quickly enough is simply not true. This department has moved money out the door nearly twice as fast we have done in the past.

And the states aren’t dragging their feet, either. Remember that every state beat the Congressional deadline to obligate 50 percent of their highway stimulus funds within the first 120 days.

Finally, the Recovery Act has not nearly played itself out yet:

• Lower than expected bids mean we can fund additional projects, creating additional jobs.
• In September, we begin awarding a portion of the $8 billion available for inter-city and high-speed passenger rail.
• Next winter, we begin awarding the additional $1.5 billion in discretionary grants for transportation projects around the country.

The ripples from these investments will carry well into next year and beyond, helping to get our economy back on track.

Comments

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