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ELECTION PROVIDES HOPE FOR ECONOMY AND BIPARTISAN LEGISLATIVE PRIORITIES

November 5, 2008

Washington, D.C. - The Associated General Contractors of America (AGC) today reacted to the presidential and congressional election results with plans to continue its 90 year history of working in a bipartisan fashion to promote the needs of the nation's construction industry.

"The construction economy supports the American economy," said AGC chief executive officer, Stephen E. Sandherr. "In the next administration, AGC will focus on targeted spending initiatives as it works in support of construction priorities that will boost the overall economy and create jobs."

AGC's chief economist, Ken Simonson, forecasts a potentially long slide in construction spending. AGC would like to see that slide reversed with a significant injection of construction stimulus spending. Construction is an economic catalyst with more than $1 trillion worth of construction put in place last year (about 8.4% of GDP), employing 7.3 million people and providing strong careers for entrepreneurs.

AGC looks forward to bipartisan work on pensions, immigration and long term programs to invest in America's infrastructure such as the transportation reauthorization, clean water infrastructure and investment in federal buildings. With strong democratic majorities in both the House and Senate, AGC will work to show the impact of tax, health care and labor issues on the businesses that are members of the AGC.

The Associated General Contractors of America (AGC) is the largest and oldest national construction trade association in the United States. AGC represents more than 33,000 firms, including 7,500 of America's leading general contractors, and over 12,500 specialty-contracting firms. More than 13,000 service providers and suppliers are associated with AGC through a nationwide network of chapters. Visit the AGC Web site at www.agc.org.

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