OFFICE OF GOV. BILL RITTER, JR.WWW.COLORADO.GOV/GOVERNOR FOR IMMEDIATE RELEASETUESDAY, OCT. 27, 2009 CONTACTMyung Oak Kim, 303.947.5708, Myung.kim@state.co.us GOV. RITTER ANNOUNCES RECOVERY ACT JOB & SPENDING DATA Gov. Bill Ritter today released new reports showing widespread benefits toColorado communities from the American Recovery and Reinvestment Act. The reportsshow that millions of people have directly benefited from Recovery Act funds. Theyalso indicate strong job creation and retention in construction, businesscontracts and teaching. The reports are based on information submitted to thefederal government earlier this month to comply with Section 1512 of the RecoveryAct and data from state agencies. “The Recovery Act has thrown a lifeline to Colorado when we most needed it,helping to keep thousands of teachers in the classroom at our public colleges anduniversities and preserving critical public safety services,” Gov. Ritter said.“Millions of Coloradans are benefiting from tax cuts and enhanced safety netservices. And scores of businesses have won contracts that allow them to stayafloat and hire new employees. “This is just the beginning,” Gov. Ritter added. “Most of the billions of dollarsin Recovery Act funds expected to flow into Colorado have yet to be spent, so jobcreation and benefits to communities and working families will continue to grow incoming months.” The new reports, compiled by the Governor’s Economic Recovery Team, show that: · $1.2 billion has been spent so far across Colorado.· More than 10,000 jobs have been created or retained so far in a portionof the programs.· Public institutions of higher education retained more than 2,600 full-time equivalent positions.
· More than 400 jobs have been retained or created through weatherizationprograms and 516 homes have received energy efficiency improvements.· More than 100 Colorado businesses have been awarded contracts and havebeen paid more than $48 million so far.· Over 3 million individuals and families have benefited from tax cuts,extra unemployment benefits and food stamps and weatherization work.· 6,200 households have taken advantage of the $8,000 first-time homebuyertax credit.The new reports are available on the state website, www.colorado.gov/recovery, andinclude: · A new statewide report, called “The Colorado Story” that providesupdated information on most Recovery Act dollars coming to Colorado. · A spreadsheet with more than 1,000 rows of data that shows spending andjob data for grants that went to state agencies. This allows people to see, forthe first time, the transfer of funds from prime recipient to vendors and sub-recipients. · A spreadsheet of federal contracts awarded to businesses and localagencies. More than 100 companies and local agencies have been awarded $523million in contracts and received $43 million so far. Job retention and creationexceeds 800 full-time equivalent positions (FTE). · A new bar chart that reflects an updated estimate of all funds coming toColorado. The chart shows that tax cuts and tax credits to individuals representthe most amount of money being spent, followed by healthcare and unemploymentbenefits and job training. We expect more than $5.7 billion not includingcompetitive grants that have yet to be awarded. · More than 20 individual stories with photos and videos of people andbusinesses that benefited from ARRA. They include features about StandardRenewable Energy, a Boulder company that is more than doubling in size – and ishiring now – because of Recovery Act projects and an Aurora brewery that expandedwith help from the Recovery Act. Other people explain how they’ve benefited fromnew jobs, emergency food and extra food stamp benefits. Two weeks ago, the Governor’s Economic Recovery Team released reports on RecoveryAct spending for every county. Those will continue to be updated. Moreinformation, including new data on grants and loans, is scheduled to be postedOct. 30 at www.recovery.gov, the official national Recovery Act website.
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