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Illustration 19276996 / Dirk Erck / Dreamstime
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Illustration 19276996 / Dirk Erck / Dreamstime

Federal Stimulus Starting to Hit Mainstream Construction Market

Oct. 20, 2009
Last week's 2010 McGraw-Hill Construction Outlook, offered a fascinating status report on the impact on the $130 billion (Yes, that's billion with a "b") in funding earmarked for the construction industry by the American Recovery and Reinvestment Act of ...

Last week's 2010 McGraw-Hill Construction Outlook, offered a fascinating status report on the impact on the $130 billion (Yes, that's billion with a "b") in funding earmarked for the construction industry by the American Recovery and Reinvestment Act of 2009 (ARRA). Funds have been slow to hit the construction market, but some savvy contractors have been ready with "shovel-ready" projects, particularly in highway construction and road resurfacing.

One of the biggest beneficiaries of ARRA funds will be the federal government's General Service Services Administration (GSA), which oversees the business of the U.S. federal government, including the construction and maintenance of millions of square feet of office space and other facilities and resources for different departments of the federal government. The GSA is scheduled to get $5.6 billion in ARRA funding, including $4.5 billion for energy-efficient upgrades of government buildings.

Want to see what ARRA is funding in your neighborhood? Visit www.recovery.gov