For those of you in the construction industry

This all sounds good but my question still remains the same: "How do we repay this and is a plan in place to ensure this will "solve the problem" for the long term?" Read on >>>>>

The following information was released by Associated General Contractors of America:

The over $135 billion in construction and infrastructure investments included in stimulus legislation being signed into law today by President Barack Obama will create or save nearly 2 million jobs over the next two years, the Associated General Contractors of America concluded in its final analysis of the legislation.

The analysis, conducted by the association's chief economist, Ken Simonson, concluded that the infrastructure and construction funding would create or save 650,000 construction jobs and 300,000 positions in related fields such as equipment and material supply. An additional 970,000 jobs in the broader economy would also be created or supported by the investments.

"There's no doubt the stimulus will have a positive impact for construction businesses and their workers across the country," said Stephen Sandherr, chief executive officer of the Associated General Contractors of America. "When you get beyond the politics and the policy, the fact remains these investments will put people to work, save businesses, and help rebuild aging infrastructure."

In addition to estimating the number of jobs to be created by the construction funding, the association also calculated the benefits to personal earnings and gross national product (GDP). Association economist Ken Simonson noted that the $135 billion for construction would increase personal earnings nationwide by $75 billion and add $230 billion to GDP.

"Whether or not you wear a hard hat for a living, these construction investments will make a difference for the better," said Simonson. "Beyond the immediate benefits, the new infrastructure projects will make businesses more efficient, commuting more reliable and our economy more prosperous for years to come."

Simonson said the new analysis is based on research on the economic benefits of infrastructure investments conducted by the association in cooperation with Professor Stephen Fuller of George Mason University.

Wonder if it will "trickle down" to the small Independant subs that bid to some of these Unions and HUGE Construction Companies? :)

The major problem I have with the whole issue is that construction is ALWAYS temporary. When the job is finished, the construction is over and the workers have to hit the road in search of the next job.

The only way I can see the "little man" or small companies receiving any benefit from this money is if they bid on these construction projects as a Minority Owned Business or as a Small Business. There are special provisions for those people written into government contracts but you have to claw and scratch to get them. A business that is owned by a woman is classified as a minority owned business and, in some cases, will not be required to post as high a bidding fee as a large construction company.

Another thing they failed to point out on the construction funding is, after the job is finished, somebody has to come up with some serious money to go into business to support some of those projects. If the banks continue to mishandle the bailout money, where are the loans coming from to operate the secondary businesses?

I did a search on DUNS Ratings of banks I do business with; was surprised to learn that Regions bank had only a 4-Star rating which is good but it wasn't as good as two credit unions that hold part of our investments. Both of those were 5-Star which is the highest ratings for financial institutions and, by the way, they pay a higher rate of interest than the banks. It pays to keep tabs on bank ratings because if they fall below a 3-Star it's time to start moving some money.

This bill is crap, if any job is over $25,000,000.00. total construction cost, guess what, 84% of Kenucky's work force will not be allowed to bid it, guess why, because we are not union contractors!

My Letter to everyone congressman, senator, or any other joe blow I could mail it to:

President Osama has signed an executive order that gives federal contracting agencies the discretion to require union only labor agreements (pla's) on federal contracts. this means 84% of the construction workforce cannot work on federal projects because they are exercising their rights (as protected by the national labor relations act) to not join a union.

The president also overturned executive order 113202, which mandated "neurality in goverment contracting".

This certainly is not the "hope and change" we were wanting. it is a serious challenge for my familys economic future. we certainly do not ask or want any special executive order to give us a "specail advantage". we just want an equal level playing field where we can compete for work to support our families.

Hey Wishin - 84% of contractors are Union? I didn't know that...You know I could care less about the Unions...In my opinion I get just as much bang for the buck or more out of a non-union contractor verses a union contractor, union means nothing to me. I know guys on both sides of the fence and one isn't any better or worse than the other. Now 25 million is a decent sized project....and from what I have heard, it sounds like a lot (most of) that money is going towards the rebuilding of federal infrastructures, such as HVAC, energy efficient lighting, occupancy sensors, lighting controls, high end windows, insulation, etc...I don't know of to many building's near us that will require more than 25M to update their current systems. Of course I'm not an estimator so I could be wrong...but 25M is a lot of money...The largest high school near us could get a totally new HVAC and electrical system AND window replacement for less than 25M, don't you think? So...I'm still thinking the stimulus package is going to have a postive effect, at least for the short term.

Bassin Bug - You're correct, problem with construction is it's temporary, but I think the intent for this money is to make places of business be less costly to operate, which in theory should trickle down to the consumer, to the parent/teacher/student or whatever the case may be.

I don't know fella's, it's a very big picture and that's a lot of money being thrown out to stimulate the situation...man it's a lot of money. I don't know whether it's right or wrong. Common sense tells me it's wrong because if we don't have any money as things are now then what the heck are we doing spending all of this money we ain't got? But I have also heard it takes money to make money. And if the stimulus money that's being thrown out for construction (building upgrades) isn't the right thing to do, then I wish someone would come up with the answer as far as what IS the right thing to do...anyone?

Wishin - One more thing...I found out back in the early 90's just how poorly a so called "skilled craftsman" could be...so ever since then the term Union hasn't meant squat to me as far as quality is concerned.

I most of misspelled 84% of the construction industry is not union.