AGC Welcomes New Congress; Continues Call for Economic Recovery Package

President-elect Obama Calls for “Dramatic Action” In a press conference held January 8, President-elect Barack Obama reiterated his concern over the state of the economy and called for “dramatic action” on movement of an economic stimulus package. He said that his plan will save or create 3 million jobs by repairing crumbling roads and bridges; eliminating the backlog of well-planned, worthy and needed infrastructure projects; doubling the production of alternative energy; weatherizing 75% of federal buildings and two million American homes; computerizing America’s medical records; updating thousands of schools, community colleges, and public universities; expanding broadband; and investing in science, research, and technology. AGC Submits Stimulus Testimony to House Democratic Steering & Policy Committee On January 7, the House Democratic Steering and Policy Committee held a forum on the economic outlook and the components of an economic recovery plan to spur job creation and create long-term growth. Speaker Nancy Pelosi (D-Calif.), Steering and Policy Committee co-chairs Congressman George Miller (D-Calif.) and Congresswoman Rosa DeLauro (D-Conn.) chaired the forum featuring a panel of economists and experts in infrastructure investment. AGC recommended to the Committee a full range of economic stimulus activities, including infrastructure investment and tax policies that would have an immediate positive impact on economic activity. Click here to view AGC’s testimony. AGC Holds Media Conference Call on Economic Stimulus On January 8, AGC hosted a media conference call with approximately 60 reporters to announce its first-ever construction employment and business forecast.  President-elect Doug Pruitt (Sundt Construction, Tucson, Ariz.), CEO Steve Sandherr, chief economist Ken Simonson and members Brian Burgett (Kokosing Construction, Fredericktown, Ohio), Tracy Hart (Tarlton Corporation, St. Louis, Mo.), Steve Kimball (Kimball Construction Co, Baltimore, Md.) and Don Weaver (Weaver Bailey Construction Company, El Paso, Ark.) outlined how under current market conditions almost two-thirds of commercial construction companies are planning to lay off workers this year.  All told, those layoffs could lead to a 30 percent reduction in the commercial construction workforce.  They emphasized that market conditions could change rapidly with new stimulus funding and could actually lead to a 25 percent increase in commercial construction jobs this year.  To see the forecast results, click here.  Transportation Coalition Launches Ad Campaign AGC, as a co-chair of the Transportation Construction Coalition, has launched a series of new print and online advertisements designed to encourage support for investing in new transportation construction projects as part of the stimulus. To view the ads, click here and here. AGC Releases New National and State-by-State Economic Jobs Report Personal earnings will increase by $1.1 billion and the national gross domestic product will increase by $3.4 billion for every billion dollars invested in new infrastructure projects according to new national and state-by-state data released by AGC on December 16, 2008. The comprehensive new data, which is based on new economic research conducted for the association as well as federal data and economic impact estimations, demonstrates the unmistakable benefit of including infrastructure investments as part of the stimulus package. According to the new data, for every billion dollars invested in projects designed to improve highways, water systems, educational and health facilities and energy systems, more than 28,500 jobs will be created or saved nationwide. 9,700 of those jobs would be for construction-related work. Another 4,600 would be for associated work, such as suppliers, while another 14,300 of those jobs would be added to the broader economy. To view the national and state-by-state data, go to http://www.agc.org/stimulus. AGC continues to press Congress to enact an economic recovery package with infrastructure investment as soon as possible to prevent further job losses in the industry and to create additional job opportunities for contractors and their workers.