Now that Congress has passed and President Obama has signed the $787 billion American Reinvestment and Recovery Plan, its intent is to create or save up to 4 million jobs over the next two years.
If you’re a job seeker, no doubt you’re probably wondering: What does this mean for me? What kind of jobs will be created?
How will the jobs be created?
“The goal at the heart of this plan is to create jobs — not just any jobs, but jobs doing the work America needs done: repairing our infrastructure, modernizing our schools and our hospitals, promoting the clean, alternative energy sources that will help us finally declare our independence from foreign oil, ” said President Obama.
Those jobs will create almost half of the projected jobs including the modernization of roads and bridges (835,000 jobs); public transit and rail improvements (200,000 jobs); prioritizing clean water, flood control and environment restoration (375,000).
The rest of the job creation is expected as small and large American businesses garner new business opportunities, via small business loans and tax incentives.
What industries will be targeted?
Ninety percent of the jobs created will be in the private sector. Funding will be extended to all types of industries and companies, but it focuses on:
How will this work?
Federal and state agencies will create the jobs/projects that need to be done. When companies are selected for the work and funding, preference will be given to those who can begin spending within six months – that is, create jobs quickly.
This creates a trickle-down of work. For example: An engineering firm that wins a contract, will need to increase staff to handle the work and also hire materials suppliers, which in turn would need to hire workers to handle the new invoicing that comes through.
How can I find these newly created jobs?
If you want to know what opportunities will be available in your area, The White House blog posted “Jobs in all 50 states” last week which gave more information about where the actual number of jobs came from and a fact sheet on state-by-state job creation details.
In addition, the government has created an oversight board and a Web site Recovery.gov, to show the public where the money is going – the contracts that are available and the companies that receive them.
Granted, this plan isn’t as neat a picture as I’ve painted. It’s complicated and still being dissected. We’ll keep talking about it. Tell us what you think.