On Tuesday, President Barack Obama said that the country is already “seeing shovels hit the ground” in the first project to repair infrastructure funded through the Department of Transportation U.S. $ 787 billion stimulus bill.
Ray LaHood (Transportation Secretary) said: “The work starts today in Montgomery County, Maryland, where the crew of a work from one project to resurface the Maryland State Highway 650 – a very busy road, which has not been fully repaired in 17 years.”
The repaving of the contract will be a family business based in Pennsylvania, the infrastructure of America, said LaHood. He said the project will support 60 jobs. “And this is how we will get the country back on its feet,” said LaHood.
Director of governmental affairs for the infrastructure of America, Mark Compton, said his company received $ 2.1 million in federal funds, through the State Highway Administration of Maryland. The money will be used to repave and add safety features to a stretch of highway.
Compton said that the infusion of cash is the “catalyst” to create 60 jobs, including bringing back some employees redundant.
He said he expects the workers to stay beyond six months of this project. “We will continue in the bidding, so the goal is to get more projects to keep these kinds of work, so you can roll out this project to another,” said Compton.
LaHood and Obama on Tuesday announced the release of $ 27 billion in funds from the stimulus package “to assist States to create an infrastructure of 21st century.”
The president said part of the largest new investment in infrastructure in America since President Eisenhower built the Interstate Highway System. “
Obama said 200 construction projects will begin in the coming weeks “, fueling the growth of an industry that has been hard hit by the economic crisis.”
Two weeks ago, Obama signed into law a stimulus plan, known as the American Recovery and Reinvestment Act.
Obama said the plan to create or save up to 3.5 million jobs over the next two years. Four thousand of those jobs will be the infrastructure including rebuilding roads, bridges and schools.
LaHood has asked the governors of the nation to certify the project and provide assurances that the funds for the operation will be earmarked for infrastructure projects.
Obama said that transportation projects marked with a special symbol so that people can see that your taxes are going.
Obama said that investment in roads to save or create 150,000 jobs by the end of 2010. The number of jobs created or saved in one year is more than the number of jobs the Big Three auto manufacturers have lost in manufacturing over the past three years, said Obama.
By investing in roads, which should have been rebuilt long ago, “Obama said,” we can save some 14,000 men and women who die each year due to poor roads and driving conditions. “
“Poor roads are a public danger, and we have a responsibility to solve them,” he said.
Obama also announced Tuesday that the Treasury Department and the Federal Reserve was the launch of the consumer and business loans Initiative.
Obama said, the initiative will generate up to one trillion dollars in new loans for the American people, when it’s fully implemented. And this will help unlock our credit markets frozen, it is absolutely essential for economic recovery.