American Recovery and American Recovery and Reinvestment ActReinvestment Act

Road to Economic Recovery Road to Economic Recovery and Jobs for Tampa Bay and Jobs for Tampa Bay

Area and YouArea and You

Florida’s District 11 – Tampa Bay’s Economic Anchor

Population: 639,295

Median Household Income: $33,559

Tampa Bay’s Business Centers:Port of Tampa, Convention Center, Tampa International Airport, University of South Florida, University of Tampa, Area Hospitals, Tropicana Field, Port Manatee, Central Business Districts

May Unemployment Rates: Florida: 11.7% Tampa Bay Area: 11.7% National: 9.7%

Foreclosures:Florida has one of the highest foreclosure rates in the country

Reversing Job Loss

In response to the unparalleled economic crisis of our generation, the Recovery Act aims to create and save 3.5 million jobs targeted at the emergency period Spring 2009 through Fall 2010.

National Journal reports more jobs might be created this year than during the entire Bush presidency.

Largest part of Recovery Act is tax cuts: Gave 95 percent of Americans an immediate tax cut

Second largest part: Direct support to state governments and individuals

Final third: Community investments in transportation, infrastructure, clean and renewable energy, health care, education, housing and more

American Recovery and Reinvestment Act

“But thanks to the federal economic stimulus package, [Muquit] Usama and his workers have been busy rehabilitating public housing complexes throughout Tampa.”- St. Petersburg Times, Feb. 20, 2010

Tax Relief for Families and Businesses Making Work Pay Tax Cut: Larger paychecks were provided

immediately beginning April 2009 to about 95 percent of American workers of up to $400 per worker ($800 per couple).

First-Time Homebuyers: Strengthens the housing market by increasing first-time homebuyer credit to $8,000 (up from $7,500) and removing the current repayment requirement.

Child Tax Credit: Cuts taxes for more than 16 million families with children through expansion of the child tax credit.

Earned Income Tax Credit: Expands the EITC by providing tax relief to families with three or more children and increasing marriage penalty relief.

College Tax Credit: Helps more than 4 million additional students attend college with a new, $2,500 tax credit for families.

Pell Grants: Increases the maximum Pell Grant by $500, from $4,850 to $5,350 in 2009 and $5,550 in 2010.

COBRA – Lifeline for our Neighbors Recovery Act helps

unemployed pay for health insurance coverage

Eligible individuals pay only 35 percent of the full COBRA premiums under their plans

Available for employees laid off from Sept.1, 2008

A Health Safety Net for Jobless Families St. Petersburg Times, Jan. 27, 2009

Helping Small Businesses Recovery Act targets $15 billion in tax relief to

small businesses Establishes tax credits for small businesses hiring

recently discharged vets and out-of-work youth Recovery Act will generate $21 billion in new

lending and investment for small businesses Provides direct, interest free loans of $35,000 –

emergency lifeline for established but struggling small businesses

Makes loans less expensive

Investments for Florida By mid-May 2010, Florida had received $18 billion, which helped state avoid widespread layoffs

and tax increases as state revenue plummeted. More than $4.3 billion for health care under Medicaid More than $3.1 billion for education $1.25 billion for jobs constructing one of the first high-speed rail lines Of 20 largest metropolitan areas, as of last summer, Tampa Bay area was only one receiving

greater share of transportation money than share of GDP $2.6 billion for transportation, energy and other shovel-ready projects By the end of April, more than 1.2 million Floridians received expanded unemployment benefits Council of Economic Advisers estimates that more than 153,000 jobs were created or saved in

Florida through the end of March

“I think it’s pretty incredible that 26,000 teachers

will continue to be able to work for Florida’s

children because of these additional moneys and

that’s really the point you know.” – Gov. Charlie Crist, July 15, 2009

What does this meanfor Tampa Bay Area?

JOBS, JOBS, JOBSJOBS, JOBS, JOBS

Tampa Bay Area Schools, Students Benefit from Recovery Money

Florida has received more than $4 billion for education USF, HCC students received about $25 million in Pell Grants Hillsborough County

$17.5 million for Title I $22 million for IDEA

Pinellas County $21 million for Title I $15 million for IDEA

Saving and retaining education jobs Approximately 800 in Pinellas

and 1,500 in HillsboroughMore to come for Hillsborough, Pinellas and Manatee, including tens of millions to modernize schools

“I don’t know how we would have been able to open schools without the stimulus money.” – Julie Janssen, Pinellas SuperintendentIt “went straight to keep our heads above water.” – MaryEllen Elia, Hillsborough Superintendent

Head Start Recovery Act

invests in early childhood education

Hillsborough:$12 million

Pinellas: $802,000 Lutheran

Ministries’ Head Start: $86,000

Housing and Community Development

More than $100 million to Tampa Bay region

Tampa Housing Authority received $38 million to revitalize downtown Central Park while creating jobs, in addition to funding for to renovate other housing complexes

Neighborhood Lending Partners received $50 million for housing initiatives in Pinellas and Pasco counties

Redevelop hard-hit communities, create jobs, purchase and rehabilitate vacant homes

Pinellas County received $1.3 million to provide short-term rental assistance to those who have become homeless or are facing homelessness

Tampa received more than $1 million for CDBG for community centers

Additional $74 million for homeless assistance grants, throughout Tampa Bay

Get In Line for New Jobs

St. Petersburg Times, March 26, 2010

Transportation – I-4/ Selmon Crosstown Connector

$105 million Creates almost 13,000 jobs Provides vital relief to

Tampa Port and local businesses

Port of Tampa poised for economic expansion

I-4/ Crosstown ConnectorBreaks Ground Tampa Bay Business Journal, April 9, 2010

Transportation – U.S. 19 and More

$45 million in Recovery Act funds for U.S. 19

Will create a significant number of jobs and ease traffic on congested road

$1.9 million for North Bay Trail (1st Street) from 30th Avenue North to 54th Avenue North.

$314,000 for East Avenue, Turner Street to Drew Street, Bicycle Safety Improvements

The Miracle on U.S. 19 St. Petersburg Times, June 14, 2009

Transportation – HART and PSTA HART receiving $15.2 million $7.8 million on 29 buses and

2 vans. Ridership is up. $1 million to extend

streetcar into downtown – in addition to Castor $1 million appropriation

Bus stop shelters and benches

$15 million for Pinellas Suncoast Transit Authority for capitol projects and operating

Hybrid-electric replacement buses, real-time bus information, and passenger amenities

$16 million for Tampa International Airport includes funding for security enhancements and runway work

Creating hundreds of jobs $5.4 million for St. Petersburg-

Clearwater Airport for terminal renovations and improvements

Expected to create or retain 44 jobs

Transportation – Our Region’s Airports

Stimulus Funds to Help St. Petersburg-Clearwater Airport’s Terminal Building

Tampa Bay Business Journal, April 9, 2009

How Tampa Leads the Nation

Source: New York Times/ July 9, 2009

High-Speed Rail – Historic Jobs Initiative Will create more than

20,000 construction jobs

$1.25 billion awarded to Florida for one of the first lines in new national HSR

Very competitive Obama, Biden made

announcement at UT“We are going to start building a new high-speed rail

line right here in Tampa, building for the future,

putting people to work.”

- President Obama, Jan. 28, 2010

Stimulus Money Headed to St. Pete

Clinics Ch. 13, July 7, 2009

Community Health Centers

$13 million to Tampa Bay area Creates jobs for doctors, nurses and

other medical professionals Allows centers to serve more patients Construction money allowing

Community Health Centers of Pinellas to open Women’s Health Center– more than $1 million

New community health centers to be constructed in East Tampa

New clinic opened in North Tampa Manatee County Rural Health Services

adding exam rooms and hiring medical professionals

Research – Tampa Bay’s High-Wage Jobs of the Future

Significant competitive research grants through NIH and NSF

$19 million awarded so far to Moffitt Cancer Center

Money will support cancer research and M2Gen partnership with Merck

More than $12 million to University of South Florida for research and to hire faculty

College of Marine Science researchers received grants to better understand and monitor climate change and environmental damage

Competing for more grant money SRI received almost $500,000 for

research

Moffitt Cancer Center Gets$6 Million Ch. 13 news, June 17, 2009

“There is no question that USF, that the stabilization funding, stopped a horrible year of cutting positions and cutting people.” – USF Vice President Michael Hoad

Tampa Bay’s Ports – Our Vital Economic Engines

4 Port of Tampa Companies in Line for Stimulus Funds TBO.com, July 17, 2009

$12 million for improvements at shipyards, pier reconstructions and bulkhead replacement Hundreds of jobs saved and created International Ship and Marine Services, Tampa Ship, Gulf Marine RepairRiverhawk Marine, Diversified Marine Tech, Port of Tampa benefit $1 million for Port security at Port Manatee

Tampa Bay’s Water Infrastructure City of Tampa received $23

million low-interest loan and $2.5 million grant, which will create 125 jobs

City will replace aging water pipes downtown and on Davis Islands

$3 million loan to Oldsmar to build a new water treatment plant

Promotes reliable infrastructure, clean and healthy Tampa Bay

MacDill Air Force Base More than $12 million for repairs

and improvements to the runway and sinkhole mitigation

Runway Rubber Removal & Remarking -$339,000

Repair Asphalt Adjacent to Concrete South Apron - $431,000

Repair North Apron Feature A36b - $1,088,000

Repair North Apron Taxi Route - $4,305,000

Repair South Apron Storm Drainage -$6,027,000

Critical to the KC-135 thanker air mobility mission

Col. Larry Martin says out of the $39 million available for Air Mobility Command, MacDill Secured $13 million because “we were ready”

Energy Efficiency Energy Efficiency and

Conservation Block Grants to cities and counties

Flexible use to reduce total energy use and fossil fuel emissions and improve energy efficiency

Energy audits, building retrofits, transportation, reduce and capture greenhouse gases, new street lights, solar panels for government buildings

Approximately $18 million to Tampa Bay region

Federal stimulus money to pay for Tampa Bay energy projectsSt. Petersburg Times, March 27, 2009

Investing in Solar Energy In Arcadia, President Obama

announced $3.4 billion for “smart grid” energy

$267 million for Florida, including Lakeland, Miami and Tallahassee

DeSoto Next Generation Solar Energy Center creating jobs

University of South Florida involved in smart-grid work

Solar energy is clean, plentiful and affordable

Focus on creating a clean energy economy

COPS – Keeping Us Safe $4.7 million to St.

Petersburg Police Department, Bradenton PD and Manatee County Sheriff

Hire and retain 25 officers Funding through Justice

Department’s COPS initiative

Provide salaries, benefits for three years

Tampa also received FEMA grant for assistance to firefighters program

Stimulus Money To Allow Hiring of Tampa Bay OfficersSt. Petersburg Times, July 28, 2009

Brownfields Redevelopment Clearwater receiving

$400,000 from the U.S. Environmental Protection Agency to clean up brownfields

Tampa also receiving $400,000

Clean up illegal dump sites and other polluted property

Investing in cleaning up brownfields will aid in redevelopment

Improves public health Spurs economic

development and job creation

Tampa Stimulus Money Helps Clean Up Dump SitesTampa Tribune, May 11, 2009

PaperFree Florida University of South

Florida received nearly $6 million

USF striving to be in forefront of electronic medical records initiative

PaperFree Florida creates jobs and reduces costly medical errors

USF Ready to Hire for Medical Data

Project St. Petersburg Times, April 14, 2010

From the Experts “I think we’ve gotten to a point where it’s a self-sustaining

recovery.”- David Wyss, chief economist at Standard & Poor’s “The U.S. recovery from the Great Recession continues, with

business conditions improving.”- William Strauss, senior economist, Federal Reserve Bank, Chicago “I feel more confident … there’ll be no relapse.”- Stuart Hoffman, chief economist, PNC Financial Services Group “Consumers are showing extraordinary resilience. There’s a lot

of pent-up demand out there that is now being unleashed. The whole supply chain system is now being revitalized.”

- Bernard Baumohl, chief economist, Economic Outlook Group “When you take it all together, the response [to the recession]

was massive, unprecedented and ultimately successful.”- Mark Zandi, chief economist, Moody’s Economy.com

White House Councilof Economic Advisers The Recovery Act has played an

essential role in changing the trajectory of the economy. It has raised the level of GDP substantially in its first full year of existence and has saved or created between 2.2 million and 2.8 million jobs as of the first quarter of 2010.

The tax relief and income support provisions of the ARRA alone account for roughly half of the beneficial employment benefits.

As of the end of March, nearly half of the original $787 billion included in the Act has been outlaid or has gone to American households and businesses in the form of tax reductions.

The fiscal stimulus provided by the Act increased substantially in the first quarter of 2010.

Additional Resources

www.castor.house.gov

www.makinghomeaffordable.gov

www.recovery.gov

www.flarecovery.com

Tampa Bay’s Road to Tampa Bay’s Road to RecoveryRecovery