8/26/12 2:07 PMSpeech_03202012Page 3 of 12http://portal.hud.gov/hudportal/HUD?src=/press/speeches_remarks_statements/2012/Speech_03202012
And with virtually everyone here today a CDBG grantee--and about half of our Sustainable Communities granteesright here in this room--I know this audience understandswe can’t pit one kind of funding against the other.To create an economy built to last, we need both -- and weunderstand how small catalytic investments like SustainableCommunities help leverage and extend larger formulainvestments like CDBG and HOME.So, today, I want to talk about how the distinct tools theseprograms provide work together to knock down barriers toeconomic growth -- and encourage private sectorparticipation and job creation.I want to talk about how they forge stronger, more effectivecollaboration at the regional level and how they make us atthe federal level a better partner to
at the local level.And above all, I want to talk about how in an environmentin which every dollar is precious, why investing incommunity development and planning will help stretchthose dollars further than ever before.
Creating Jobs at the Local Level
Better than just about anyone, this audience knows howimportant CDBG is to economic development and creating jobs at the local level.From funding the construction of public facilities andhousing rehab, to acquisition and public services, to morecostly repairs like water and sewer infrastructure, dollar fordollar, CDBG is the most effective job creator in our budget.In fact, results from the Recovery Act show that CDBGcreated twice as many jobs per dollar as other Recovery Actprograms.Indeed, for every dollar CDBG invests in our communities, itleverages another $3.55 in private and other public dollars -- and efforts like the Section 108 loan uarantee roram