Consultants Forum    |   FacilityLocations    |   FastFacility    |   Advertise    |   Subscribe    |   Newsletter    |   RSSRSS

The Recovery Act: Transforming the American Economy Through Innovation

The American Recovery and Reinvestment Act is modernizing transportation, investing in wind and solar energies, and putting funds in broadband connectivity.

Offices of the President and Vice President of the United States (8/25/2010)
The American Recovery and Reinvestment Act is one of the single largest investments in the U.S. economy in the country's history. The act's $787 billion of funding aims to improve a number of sectors, including transportation, clean energy, and information and communications technology.

The act's three-fold approach - to rescue the economy, to put the country on a path to recovery, and to reinvest in the country's long-term economic future - is already stimulating the economy. This August report from the Offices of the President and Vice President provides an update on the progress of recovery.

The act's transportation investments focus on renewables. The government has invested more than $2 billion in advanced battery and electric drive component manufacturing. In 2009, there were only two advanced vehicle battery plants in the country. By 2012, there will be 30. The Advanced Vehicles Manufacturing program gives another $2.4 billion to Fisker, Nissan, and Tesla to build electric car factories in Delaware, Tennessee, and California, respectively.

Section 1603 grants are boosting wind and solar energy capacity. More than $3 billion in grants have been extended to more than 100 wind projects in 30 states. The program also supports more than 200 megawatts of solar projects that are already delivering power to consumers.

To improve information technologies, the government granted $4.4 billion to the Department of Commerce and $2.5 billion to the Department of Agriculture to improve broadband connectivity in rural areas. Millions of Americans will have improved access to broadband due to those funds.
RELATED TOPICS AND ARTICLES
 
 
 
 
 
 
 
Ask the Author
Have questions, comments or concerns about this article? Submit to Ask Area Development here and the author or an expert from our network of site selection and facility planning professionals will answer:
News Items
Around The Web
Studies/Research
News Items
Around The Web
Studies/Research
McKean Defense Group Expands Its San Diego, California, Operations Center
07/29/2014
Diablo Technologies Opens Silicon Valley Operations Center In San Jose, California
07/29/2014
Atlantic.Net Opens Data Centers In Toronto, Canada And Dallas, Texas
07/29/2014
Encore Wire Corporation Plans 10th Expansion At McKinney, Texas, Manufacturing Plant
07/29/2014
Corning Expands St. Lawrence County, New York, Complex With Assistance From State And Power Utility
07/29/2014
Super Radiator Coils Invests $4 Million To Expand Minneapolis, Minnesota, Manufacturing Facility
07/29/2014
Latvia-Based Valmiera Glass Invests $20 Million In Dublin, Georgia, Operations Center
07/29/2014
AddThis Feed
Email Tips: Send Us Business Expansion or Relocation News
<< More Recent Next >>
Domestic Oil Production Spurs Regional and Manufacturing Industry Renaissance
Bruce Rutherford, JLL
STEM Talent Needed to Employ Additive Manufacturing Technologies and Advance Innovation
Geraldine Gambale, Area Development Magazine
The Regional Impact of Quality of Life on Entrepreneurial Decisions
Dan White, Moody's Analytics
Douglas Wynne, Moody's Analytics
Leading Locations for 2014: U.S. Metros Ranked for Economic and Job Growth
Dale D. Buss
Top Performing Airports in 2014 for Air Cargo and Industrial RE
Area Development Online Research Desk
10th Annual Survey of Site Selection Consultants: Economy on a More Continuous Growth Track
Area Development Magazine Special Presentation
28th Annual Survey of Corporate Executives: Availability of Skilled Labor New Top Priority
Area Development Magazine Special Presentation
Manufacturers Surveyed in Q4 2013 Optimistic About the 2014 Economy
Geraldine Gambale, Area Development Magazine
The Need for Increasing the Capacity of Public Transportation Infrastructure
Area Development Online Research Desk
New Technologies Transforming Manufacturing, Changing Competition
Area Development Online Research Desk
All Studies/Research/Papers

Share