Publication Date:
April 2009
U.S. Chamber Applauds Investments
Stimulus Bill to Spark Job Growth
Tecta America Corp. plans to hire more workers because of federal investment in renewable energy.
Jobs in infrastructure, energy, and technology-among other industries- may be coming to your community soon. Billions of federal dollars set aside in the $787 billion economic stimulus package for projects in these industries will likely spur hiring and business investment, helping reverse the economy's downward spiral.
"As flawed as the stimulus package is, with wasteful spending and too few tax incentives, the investments in infrastructure will help us achieve our number one goal-creating jobs," says Bruce Josten, Chamber executive vice president for Government Affairs.
Most of the stimulus-created jobs will appear by the end of fiscal year 2010 because the bill's appropriations will be spent by then, according to the Congressional Budget Office.
The Green Road to Recovery
Construction, which has lost 900,000 jobs since September 2006, and manufacturing are among the industries that will benefit most from the stimulus package, which funds projects to rebuild roads and bridges and make schools, homes, and government buildings more energy efficient, among other initiatives.
U.S. Chamber member Mark Santacrose, president and CEO of Skokie, Illinois-based Tecta America Corp., expects his roofing company, which has a burgeoning green division, to benefit from the $20 billion set-aside for energy efficiency upgrades. Santacrose spoke at a "Getting America Back to Work" forum hosted by the Chamber.
Cutting-Edge Jobs
Information technology workers, including computer programmers, fiber-optic technicians, and data-entry clerks, will also benefit from plans to computerize the nation's medical records and expand high-speed Internet access to rural areas.
The health care system, which employed 5.3 million people in 2007, is already a high-growth area, according to Sharon Canner, senior director with the College of Health Information Management Executives. With funding for health IT, growth "should increase exponentially," she says.
Nonetheless, the industry is facing a "serious shortage of individuals with skills. To help fill that gap, the stimulus bill contains $2 billion in funds for scholarships, loan repayment, and grants for worker training programs," Canner adds.
Jobs created in broadband will go far beyond cable installers and technicians, according to Robert Atkinson of the Information Technology and Innovation Foundation. Other technology industries such as computer and "smart technology" appliance manufacturers can expect to feel the "network employment effects" as consumers move to take advantage of the expanded broadband and "smart grid" infrastructure, says Atkinson.
If you want to be notified of economic stimulus projects, go to www.recovery.org/.
