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.
8/25/2010
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.
Project Announcements
Canfor Expands Fulton, Alabama, Production Operations
04/22/2024
Tucker Door & Trim Plans Henrico County, Virginia, Operations
04/19/2024
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
L3Harris Technologies Expands Orange County, Virginia, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024