Update on Economic Stimulus Activity

AGC of America continues to aggressively advocate for building infrastructure and tax incentives, along with other infrastructure, to be a major part of any economic stimulus package.  Below are highlights of some of AGC's recent activities: Infrastructure Coalition Sends Letters, Begins Media Campaign: An AGC-led coalition of organizations in the building design and construction industry sent two letters to Congress and the President-elect last week focused on economic stimulus.  One letter focused on including building infrastructure investment in a stimulus and identified needs in the different building markets.  The coalition also sent a letter highlighting tax incentives that would stimulate the economy, improve energy efficiency, and create job opportunities in a stimulus package.  If you would like to view the two letters, please click on Tax Letter and Infrastructure Letter. In addition, the coalition will be placing advertisements in Roll Call, the widest read publication on Capitol Hill by policy makers. 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. 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 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.  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.  To view the national and state-by-state data, go to http://www.agc.org/stimulus. Get Involved!  Make sure you, your employees, colleagues, subcontractors, and suppliers sign a petition at www.agc.org/letsbuild and write a letter to Capitol Hill at www.agc.org/lac to encourage Congress and President-elect Obama to act quickly to invest in vital infrastructure projects and put construction workers back to work.