The American Recovery and Reinvestment Act of 2009 (ARRA), signed into law by President Obama in February, provides new tools in the form of grants, tax credits, low-interest loans and bonds for state and local governments to finance basic infrastructure, public schools, economic development and renewable energy assets.
The $787 billion stimulus can be broken down into four main funding categories:
- Social (42%)
- Tax incentives (36%)
- Government (20%)
- Economic Development (2%)
Most of the ARRA $787 billion will be spent between 2009 and 2011. The stimulus package includes (approximately) :
- $100 billion for infrastructure and transportation
- $48 billion for job training
- $41 billion for energy and environmental projects
- $20 billion in renewal energy tax incentives
McCullough Consulting provides a full range of services that allow our municipal and private industry clients to maximize opportunities made available to them through government incentive programs like ARRA. With over 20 years of experience helping clients take advantage of economic development programs, our professionals have secured hundreds of millions of dollars in funding and have handled incentive program implementations with great success.
Let us help you secure ARRA funding and help your municipality achieve economic success.
