CDFA Spotlight: States Putting Economic Stimulus Funds to Work June 2009 CDFA Stimulus Update

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All across the country, federal stimulus funding and resources are being put to work. The American Recovery and Reinvestment Act (ARRA), signed into law on February 17, 2009, authorized billions in new federal support for economic development, transportation and energy investment and stabilization resources for communities hit hard by the economic downturn. The bill also authorized a variety of new bonding abilities including new bond programs and improvements to existing tools. Nearly four months later, the impact of ARRA is being seen and CDFA has gathered a number of examples to show how the stimulus is impacting the development finance industry. CDFA’s state stimulus websites resource page has also been updated with new information and resources.

Michigan - More than $13 million in Recovery Act Funding Anticipated for Rural Transit Agencies and Rural Intercity Bus Service

New Jersey - Governor Corzine Announces $73.6 Million in U.S. Department of Energy Stimulus Funding: Priority is Job Creation from Energy Efficiency and Renewable Energy Projects

California - Stimulus Dollars Generate Jobs, Enables Construction to Move Forward on U.S.- Mexico Border Project

Ohio - Jobs Coming as ODOT Awards Contracts on Stimulus Projects

Colorado - Stimulus Flows to Four Corners

Wisconsin - $5.6M in Stimulus to Go to Clean Wis. Brownfields

Tennessee - Bredesen Announces $635 Million in Recovery Act Stabilization Funds for Tennessee

>>> More Stimulus Headlines Collected By CDFA

>>> CDFA State Stimulus Web Sites


This article is intended to provide accurate and authoritative information in regard to the subject matter covered. The author and CDFA are not herein engaged in rendering legal, accounting or other professional services, nor does it intend that the material included herein be relied upon to the exclusion of outside counsel. CDFA is not responsible for the accuracy of the information provided in this fact sheet. The information provided has been collected from a variety of sources. Those seeking to conduct complex financial deals using the tools mentioned in this document are encouraged to seek the advice of a skilled legal/consulting professional.