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
Japan-Based Dassai Establishes Hyde Park, New York, Operations
09/26/2023
Martin Brower Plans Oshawa, Ontario, Canada, Distribution Hub
09/26/2023
Latitude Plans Clarendon County, South Carolina, Operations
09/25/2023
DePre Plans Powell, Tennessee, Production Operations
09/25/2023
Boyd Metals Expands Joplin, Missouri, Operations
09/25/2023
Books for Less Plans Westminster, South Carolina, Distribution Hub
09/25/2023
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