Reiterates Support of Federal Economic Recovery Plan for Job Creation
Governor Arnold Schwarzenegger today joined President Barack Obama at a town
hall meeting in Los Angeles to discuss the economy, job creation and the
American Recovery and Reinvestment Act (ARRA). As one of the few Republican
governors standing with President Obama in strong support of the Act, Governor
Schwarzenegger has pledged to ensure California receives as much funding as
possible to create jobs and stimulate the state's economy.
"In California we are pushing to pump federal stimulus funds
into the economy immediately so we can create jobs, jobs and more jobs as
quickly as possible," said Governor Schwarzenegger.
"Just as important, the federal government is finally
financing our nation's ailing infrastructure which will create jobs,
sustainable economic growth and a higher quality of life in California and
across the nation. Already over 50 California infrastructure projects are in
line for federal funding - and that just scratches the surface of what is to
come."
Estimates show California currently stands to receive
approximately $85 billion from the ARRA - approximately $50 billion in funding
and $35 billion in tax benefits. Estimates are updated as additional
information is made available at the federal level. A breakout by issue area of
the $50 billion in funding California is estimated to receive can be found at: www.recovery.ca.gov
To date, 57 transportation infrastructure projects expected
to create over 11,000 in California have been notified they are first in line
for infrastructure-focused federal economic stimulus funding - generating
economic activity in advance of receiving federal dollars. The Governor also launched the
California Green Corps, a program funded by federal economic stimulus money and
public-private partnerships to train at-risk young adults to fill jobs in
California's growing green economy. Additionally, California's unemployed are
receiving the relief of an additional $25 in
federal funding per week in their unemployment checks
The Governor recently
launched a federal economic stimulus transparency and accountability web
site for Californians to track stimulus funding as it is received and expended
by the state www.recovery.ca.gov.
In addition to stimulating the California economy through
federal economic stimulus funding, the Governor has taken a number of
aggressive actions to create jobs and put California's economy on the road to
recovery. Most recently, the Governor proposed and aggressively fought for the
inclusion of economic stimulus
measures in California's 2009-10 budget including incentives for
California-based companies creating jobs for Californians, provisions to
expedite infrastructure projects through design build authority, incentives to
lure television and movie production back to California where it belongs and
measures focused on stimulating the purchase of new homes across the
state.
