American Recovery and American Recovery and Reinvestment ActReinvestment Act

Road to Economic Recovery Road to Economic Recovery and Jobs for Tampa Bay Area and Jobs for Tampa Bay Area

and Youand You

Florida’s District 11 – Tampa Bay’s Economic Anchor

Population: 639,295

Median Household Income: $33,559

Tampa Bay’s Business Centers:Port of Tampa, Convention Center, Tampa International Airport, University of South Florida, University of Tampa, Area Hospitals, Tropicana Field, Port Manatee, Central Business Districts

August Unemployment Rates: Florida: 11.7% Tampa Bay Area: 12.6% National: 9.6%

The Recovery Act aims to create and save 3.5 million jobs in response to the unparalleled economic crisis of our generation

The American Recovery and Reinvestment Act boosted the country's real GDP by up to 4.5 percent in the second quarter of 2010, and increased the number of American jobs by as many as 3.3 million

Largest part of Recovery Act is tax cuts: Gave 95 percent of Americans an immediate tax cut

Second largest part: Direct support to states and individuals

Final third: Community investments in transportation, infrastructure, clean and renewable energy, health care, education, housing and more

American Recovery and Reinvestment Act

“But thanks to the federal economic stimulus package, [Muquit] Usama and his workers have been busy rehabilitating public housing complexes throughout Tampa.”- St. Petersburg Times, Feb. 20, 2010

Tax Relief for Families and Businesses Making Work Pay Tax Cut: Larger paychecks were provided

immediately beginning April 2009 to about 95 percent of American workers of up to $400 per worker ($800 per couple).

Child Tax Credit: Cuts taxes for more than 16 million families with children through expansion of the child tax credit.

Earned Income Tax Credit: Expands the EITC by providing tax relief to families with three or more children and increasing marriage penalty relief.

College Tax Credit: Helps more than 4 million additional students attend college with a new, $2,500 tax credit for families.

Pell Grants: Increases the maximum Pell Grant by $500, from $4,850 to $5,350 in 2009 and $5,550 in 2010.

COBRA: Eligible individuals pay only 35% of the full COBRA premiums for health insurance coverage

Lower Taxes for Middle Class Families Tax bills for families in

2009 at the lowest level since 1950 under President Harry Truman

98 percent of families saw their taxes decrease this year

Average tax refunds were up 10 percent

The historic tax cuts for middle class families are putting money back into their wallets at a time they need it most

Helping Small Businesses Recovery Act targets $15 billion in tax relief to small

businesses

Establishes tax credits for small-businesses hiring, recently discharged vets and out-of-work youth

Recovery Act will generate $21 billion in new lending and investment for small businesses

Provides direct, interest free loans of $35,000 – emergency lifeline for established but struggling small businesses

Makes loans less expensive

Investments for Florida By mid-July 2010, Florida had received $19.1 billion, which helped state avoid widespread layoffs

and tax increases as state revenue plummeted.

More than $4.3 billion for health care under Medicaid

More than $3.1 billion for education

$1.25 billion for jobs constructing one of the first high-speed rail lines

Of 20 largest metropolitan areas, as of last summer, Tampa Bay area was only one receiving greater share of transportation money than share of GDP

$2.7 billion for transportation, energy and other shovel-ready projects

By the end of May, more than 1.2 million Floridians received expanded unemployment benefits

Council of Economic Advisers estimates that 167,000 jobs were created or saved in Florida

“I think it’s pretty incredible that 26,000 teachers

will continue to be able to work for Florida’s

children because of these additional moneys and

that’s really the point you know.” – Gov. Charlie Crist, July 15, 2009

What does this meanfor Tampa Bay Area?

JOBS, JOBS, JOBSJOBS, JOBS, JOBS

Tampa Bay Area Schools, Students Benefit from Recovery Money

Florida has received more than $4 billion for education

$700 million to Florida for Race to the Top

USF, HCC students received $25 million in Pell Grants

Hillsborough County Schools

$17.5 million for Title I

$22 million for IDEA

Pinellas County Schools

$21 million for Title I

$15 million for IDEA

Recovery Act saved and retained approximately 800 jobs in Pinellas and 1,500 in Hillsborough

“I don’t know how we would have been able to open schools without the stimulus money.” – Julie Janssen, Pinellas Superintendent

It “went straight to keep our heads above water.” – MaryEllen Elia, Hillsborough Superintendent

Head Start Recovery Act invests

in early childhood education

Hillsborough:$12 million

Pinellas: $802,000 Lutheran Ministries’

Head Start: $86,000

Housing and Community Development More than $100 million to Tampa Bay

region

Tampa Housing Authority received $38 million to revitalize downtown Central Park while creating jobs, in addition to funding for to renovate other housing complexes

Neighborhood Lending Partners received $50 million for housing initiatives in Pinellas and Pasco counties

Redevelop hard-hit communities, create jobs, purchase and rehabilitate vacant homes

Pinellas County received $1.3 million to provide short-term rental assistance to those who have become homeless or are facing homelessness

Tampa received more than $1 million for CDBG for community centers

Additional $74 million for homeless assistance grants, throughout Tampa Bay

“Thousands of Job Seekers Flock

to Tampa Job Fair”

Tampa Tribune, March 25, 2010

Transportation – I-4/ Selmon Crosstown Connector

$105 million Creates almost 13,000 jobs Provides vital relief to Tampa

Port and local businesses Port of Tampa poised for

economic expansion

I-4/ Crosstown ConnectorBreaks Ground Tampa Bay Business Journal, April 9, 2010

Transportation – U.S. 19 and More

$45 million in Recovery Act funds for U.S. 19

Will create a significant number of jobs and ease traffic on congested road

$1.9 million for North Bay Trail (1st Street) from 30th Avenue North to 54th Avenue North.

$314,000 for East Avenue, Turner Street to Drew Street, Bicycle Safety Improvements

The Miracle on U.S.

19 St. Petersburg Times, June 14, 2009

Transportation – HART and PSTA

HART receiving $15.2 million $7.8 million on 29 buses and 2

vans. Ridership is up. $1 million to extend streetcar

into downtown – in addition to Castor $1 million appropriation

Bus stop shelters and benches $15 million for Pinellas Suncoast

Transit Authority for capitol projects and operating

Hybrid-electric replacement buses, real-time bus information, and passenger amenities

$16 million for Tampa International Airport includes funding for security enhancements and runway work

Creating hundreds of jobs $5.4 million for St. Petersburg-

Clearwater Airport for terminal renovations and improvements

Expected to create or retain 44 jobs

Transportation – Our Region’s Airports

Stimulus Funds to Help St. Petersburg-Clearwater Airport’s Terminal BuildingTampa Bay Business Journal, April 9, 2009

How Tampa Leads the NationSource: New York Times/ July 9, 2009

High-Speed Rail – Historic Jobs Initiative Will create more than

20,000 construction jobs

$1.25 billion awarded to Florida for one of the first lines in new national HSR

Small- and minority-owned business workshop held so contractors learn how to compete

Obama, Biden made announcement at UT

“We are going to start building a new high-speed rail

line right here in Tampa, building for the future,

putting people to work.”

- President Obama, Jan. 28, 2010

Community Health Centers $13 million to Tampa Bay area

Creates jobs for doctors, nurses and other medical professionals

Allows centers to serve more patients

Construction money allowing Community Health Centers of Pinellas to open Women’s Health Center– more than $1 million

New community health centers to be constructed in East Tampa

New clinic opened in North Tampa

Manatee County Rural Health Services adding exam rooms and hiring medical professionals

Research – Tampa Bay’s High-Wage Jobs of the Future

Significant competitive research grants through NIH and NSF

$19 million awarded to Moffitt Cancer Center

Money will support cancer research and M2Gen partnership with Merck

More than $12 million to University of South Florida for research and to hire faculty

College of Marine Science researchers received grants to better understand and monitor climate change and environmental damage

Competing for more grant money

SRI received almost $500,000 for research

“There is no question that USF, that the stabilization funding, stopped a horrible year of cutting positions and cutting people.” – USF Vice President Michael Hoad

Tampa Bay’s Ports – Our Vital Economic Engines

Tampa port awarded $2.2 million federal stimulus grant to rebuild berth Tampabay.com Aug. 25, 2009

$12 million for improvements at shipyards, pier reconstructions and bulkhead replacement

Hundreds of jobs saved and created

International Ship and Marine Services, Tampa Ship, Gulf Marine RepairRiverhawk Marine, Diversified Marine Tech, Port of Tampa benefit

$1 million for Port security at Port Manatee

Tampa Bay’s Water Infrastructure City of Tampa received $23

million low-interest loan and $2.5 million grant, which will create 125 jobs

City replacing aging water pipes downtown and on Davis Islands

$3 million loan to Oldsmar to build a new water treatment plant

Promotes reliable infrastructure, clean and healthy Tampa Bay

MacDill Air Force Base More than $12 million for repairs and

improvements to the runway and sinkhole mitigation

Runway Rubber Removal & Remarking -$339,000

Repair Asphalt Adjacent to Concrete South Apron - $431,000

Repair North Apron Feature A36b - $1,088,000

Repair North Apron Taxi Route - $4,305,000

Repair South Apron Storm Drainage -$6,027,000

Critical to the KC-135 tanker air mobility mission

Col. Larry Martin says out of the $39 million available for Air Mobility Command, MacDill Secured $13 million because “we were ready”

Energy Efficiency Pinellas County Urban League won $1.5

million in weatherization money to upgrade homes

Recovery Act Weatherization Assistance has supported more than 200 jobs in Florida in the second quarter of 2010

Energy Efficiency and Conservation Block Grants to cities and counties

Energy audits, building retrofits, reduce and capture greenhouse gases, new street lights, solar panels for government buildings

$18 million to Tampa Bay region

Pinellas County Urban League Helps Create New JobsWeekly Challenger, September 10, 2010

Investing in Solar Energy In Arcadia, President Obama

announced $3.4 billion for “smart grid” energy

$267 million for Florida, including Lakeland, Miami and Tallahassee

DeSoto Next Generation Solar Energy Center creating jobs

University of South Florida involved in smart-grid work

Tampa-based Ultrasonic Technologies receiving $1.4 million to lower cost of photovoltaics

Solar energy is clean, plentiful and affordable

Focus on creating a clean energy economy

COPS – Keeping Us Safe $4.7 million to St. Petersburg

Police Department, Bradenton PD and Manatee County Sheriff

Hire and retain 25 officers Funding through Justice

Department’s COPS initiative Provide salaries, benefits for

three years Tampa also received FEMA

grant for assistance to firefighters programStimulus Money To Allow Hiring of Tampa Bay Officers

St. Petersburg Times, July 28, 2009

PaperFree Florida University of South

Florida received nearly $6 million

USF striving to be in forefront of electronic medical records initiative

PaperFree Florida creates jobs and reduces costly medical errors

USF Ready to Hire for Medical Data Project St. Petersburg Times, April 14, 2010

From the Experts “I think we’ve gotten to a point where it’s a self-sustaining recovery.”- David Wyss, chief economist at Standard & Poor’s

“The U.S. recovery from the Great Recession continues, with business conditions improving.”- William Strauss, senior economist, Federal Reserve Bank, Chicago

“I feel more confident … there’ll be no relapse.”- Stuart Hoffman, chief economist, PNC Financial Services Group

“Consumers are showing extraordinary resilience. There’s a lot of pent-up demand out there that is now being unleashed. The whole supply chain system is now being revitalized.”

- Bernard Baumohl, chief economist, Economic Outlook Group

“We would be in a measurably worse place if not for the stimulus. I don’t think it is any coincidence that the great recession ended at precisely the same time that the stimulus, and in this case when I say stimulus I am talking about the [American Recovery and Reinvestment Act] ….was providing its maximum economic benefit.”

- Mark Zandi, chief economist, Moody’s Economy.com

“The weight of the evidence suggests that fiscal policy softened the impact of the recession, boosting demand, creating jobs, and helping the economy start growing again.”

- James Surowiecki, The New Yorker

Recovery Act at Work: More Jobs to Come The Recovery Act has played

an essential role in changing the trajectory of the economy. It has raised the level of GDP substantially in its first full year of existence and has saved or created approximately 3.3 million jobs.

The tax relief and income support provisions of the ARRA alone account for roughly half of the beneficial employment benefits.

Johnnie Ruth Clarke Health CenterMidtown St. Petersburg

J.L. Young Apartment Complex, Tampa

Additional Resources

www.castor.house.gov

www.makinghomeaffordable.gov

www.recovery.gov

www.flarecovery.com

Tampa Bay’s Road to RecoveryTampa Bay’s Road to Recovery