Tampa Bay American Recovery and Reinvestment Act

American Recovery and Reinvestment Act Road to Economic Recovery and Jobs for Tampa Bay Area and 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
May Unemployment Rates:
Florida: 11.7% ↓
Tampa Bay Area: 11.7% ↓
National: 9.7% ↓
The trend is positive, but we must continue to create jobs

The Recovery Act aims to create and save 3.5 million jobs in response to the unparalleled economic crisis of our generation
More jobs will be created in 2010 than during the entire Bush presidency.
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).
First-Time Homebuyers: Strengthens the housing market by increasing first-time homebuyer credit to $8,000 (up from $7,500) and removing the current repayment requirement.
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% of families saw their taxes decrease this year
Average tax refunds were up 10%
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-May 2010, Florida had received $18 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
$2.6 billion for transportation, energy and other shovel-ready projects
By the end of April, more than 1.2 million Floridians received expanded unemployment benefits
Council of Economic Advisers estimates that more than 153,000 jobs were created or saved in Florida through the end of March
“ 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 mean for Tampa Bay Area?
JOBS, JOBS, JOBS

Tampa Bay Area Schools, Students Benefit from Recovery Money
Florida has received more than $4 billion for education
USF, HCC students received about $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
More to come for Hillsborough, Pinellas and Manatee, including tens of millions to modernize schools
“ 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
“ Encore Project Moves Forward” Tampa Bay Business Journal June 10, 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 Connector Breaks 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 Building Tampa Bay Business Journal, April 9, 2009

How Tampa Leads the Nation Source: 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
Very competitive
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
Stimulus Money Headed to St. Pete Clinics Ch. 13, July 7, 2009

Research – Tampa Bay’s High-Wage Jobs of the Future
Significant competitive research grants through NIH and NSF
$19 million awarded so far 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
Moffitt Cancer Center Gets $6 Million Ch. 13 news, June 17, 2009 “ 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 4 Port of Tampa Companies in Line for Stimulus Funds TBO.com, July 17, 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 Repair Riverhawk 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 will replace 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
Energy Efficiency and Conservation Block Grants to cities and counties
Flexible use to reduce total energy use and fossil fuel emissions and improve energy efficiency
Energy audits, building retrofits, transportation, reduce and capture greenhouse gases, new street lights, solar panels for government buildings
Approximately $18 million to Tampa Bay region
Federal stimulus money to pay for Tampa Bay energy projects St. Petersburg Times, March 27, 2009

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
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 program
Stimulus Money To Allow Hiring of Tampa Bay Officers St. Petersburg Times, July 28, 2009

Brownfields Redevelopment
Clearwater receiving $400,000 from the U.S. Environmental Protection Agency to clean up brownfields
Tampa also receiving $400,000
Clean up illegal dump sites and other polluted property
Investing in cleaning up brownfields will aid in redevelopment
Improves public health
Spurs economic development and job creation
Tampa Stimulus Money Helps Clean Up Dump Sites Tampa Tribune, May 11, 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
“ When you take it all together, the response [to the recession] was massive, unprecedented and ultimately successful.”
Mark Zandi, chief economist, Moody’s Economy.com

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 between 2.2 million and 2.8 million jobs.
The tax relief and income support provisions of the ARRA alone account for roughly half of the beneficial employment benefits.
As of the end of March, nearly half of the original $787 billion included in the Act has been outlaid or has gone to American households and businesses in the form of tax reductions.
The summer of 2010 is poised to be the most active Recovery Act season yet.
Johnnie Ruth Clarke Health Center Midtown 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 Recovery

Tampa Bay American Recovery and Reinvestment Act

by Lara Hopkins on Jun 24, 2010

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Tampa Bay American Recovery and Reinvestment Act — Presentation Transcript

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