Stimulus..What does it all mean?

[wesbt108]

Hey All, I know that there was a post about this earlier, but I wanted to revisit with the recent developments! So the below is an sample of the press statement from the whitehouse.gov

The President announced today, for example, that the CEO of an iconic American manufacturer, Caterpillar, would rehire some of the 20,000 workers who were recently laid off if the recovery package were passed.

But CAT’s not alone. The Denver Business Journal reported a few days ago that, "Telecommunications companies fore-see putting thousands of construction workers to work this year expanding the nation’s broadband infrastructure, fueled by the federal economic stimulus package." The Business Review Western Michigan describes how 85% of contractors could either hire new workers or avoid layoffs if the plan is passed. Even Google CEO Eric Schmidt said the company would "absolutely" hire new employees if the stimulus passes.


So what does this mean for all of us? Urban Planners are flurishing in some areas, and (Arizona) struggling in others. Where do Planners fall in? Are there going to be jobs?

I'm interested to hear your thoughts and research. Personally, I hope that the stimulus bill stimulates jobs across the board.

[Gotta Speakup]

Does anyone know where there has been an analysis of the final bill in terms of its impact on cities? I did see a reference to an $8 billion high speed rail program.

[nrschmid]

I have tried to find a draft of the congressional conference report, but nothing has been released yet. The bill will be sent back to each chamber for a final vote before it is sent to the president's desk.

I am pretty upset with the bill cut back so much. $150 billion for infrastructure projects is pretty low. ASLA is up in arms with Amendment #309 to the Senate Bill which banned community parks, streetscapes, pools, stadiums, etc. from receiving stimulus money. There is also less money going to state governments, which will also impact municipalities and other forms of local government.

I think there will be a greater demand for planners in the federal sector, at least for the next year or two. New construction in communities will take even more time, and the pace will be much slower than before the bubble. I still think the climate for planners at the local and regional level won't improve for at least another 2-3 years, at the very least. Hopefully TARP will make banks increase lending instead of paying down debt, which eventually will lead to an increase in consumer confidence. Lending practices would be tighter for new homes, so growth will not take off.

IMO, transportation planning and economic development will be two areas in greater demand over the next year or two, followed by current/long-range planning.

[TexanOkie]

The CEO of Caterpillar, immediately after Obama stated that this bill would prevent layoffs, repudiated Obama's statement and said that even more layoffs were going to happen before Cat starts hiring again, regardless if the stimulus passes or not.

Story here: ABC News: Caterpillar CEO Contradicts President on Whether Stimulus Will Allow Him to Re-Hire Laid Off Workers

[jbear]

Apparently $2 billion is to be added by the stimulus bill to the existing Neighborhood Stabilization Program (passed last year; administered by HUD). This money will then be allocated to municipalities to be used for rehab and redevelopment of distressed properties. While this isn't huge money, it adds to previous funds granted last year and is intended for very targeted use (i.e. only in areas hardest hit by foreclosures).

It could be good news for planners such as myself (land use planner in private sector). Why do i think so? These funds will hopefully go (partially) toward redevelopment projects that will require the services of private planning and civil design firms. How long will it take for municipalities to acquire these funds and actually begin projects? it certainly won't be overnight, and firms like CAT and planners like me will continue to scrape by until the NSP and similar parts of the stimulus actually "stimulate" somthing beynd political rhetoric. I won't be holding my breath!


HUD NSP website: http://www.hud.gov/offices/cpd/commu...ighborhoodspg/

[urban19]

Does anyone know where there has been an analysis of the final bill in terms of its impact on cities? I did see a reference to an $8 billion high speed rail program.

this is a perfect example of waisted spending money. supposely we already had money saved up for this project, and with this stimulus this project will start construction soon. and with a high speed rail, the state will be making a bigger hole in the pocket. we need the high speed rail, so traffic in california lessens and people can find jobs easier. on the other hand, we should have waited to pass the project.

[JNA]

The NACo website as a pretty good explaination:
http://naco.org/Template.cfm?Section...ontentID=30018