Contractors Benefit from Stimulus Plan
President Obama’s stimulus plan, titled the American Recovery and Reinvestment Act, was passed into law on February 17, 2009. One of the goals of the economic stimulus plan is “to create jobs and promote economic recovery”. This plan couldn’t have come any sooner for the construction industry. Construction workers who have lost their jobs make up about one-fifth (747,000) of all the jobs lost in the nation over the last year.
According to the AGC, of the $787 billion being injected into the economy via this stimulus plan, over $134 billion will be spent on construction. This includes over $49 billion being spent on transportation infrastructure and almost $30 billion on building infrastructure. Out of the $27.5 billion being spent on highway and bridge construction, a combined $2.2 billion will be spent in DE, MD, NJ and PA. Local contractors are already starting to hire for the various projects that have begun or will begin soon.
Recovery.gov, the official website for the ARRA, estimates that within 2 years, 320,000 new jobs will be created in PA, MD, NJ and DE. A good portion of those jobs would be in construction industries. With thousands of construction workers heading back to the jobsite, it’s an important time for contractors to think about the safety of those eager employees. Many stimulus-funded projects are being put together quickly and safety should not be overlooked. It would be unfortunate if the hoped-for upswing in the economy were to be overshadowed by costly employee injuries. Contractors are responsible for protecting the safety and health of all their employees.
This information is provided as a service to you by Compliance Consultants, Inc.