The American Recovery and Reinvestment Act provided billions of dollars in funding to Florida and the Tampa Bay area to boost the economy, create jobs, and invest in infrastructure projects. The stimulus funding saved or created thousands of jobs in schools, transportation, healthcare, housing, and other areas. It also provided tax cuts and assistance to families, small businesses, and unemployed workers. While more work remains, analysts agree that the Recovery Act played an essential role in ending the recession and changing the trajectory of the economy for the better.
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American Recovery and Reinvestment Act in Tampa Bay
1. American Recovery and Reinvestment Act Road to Economic Recovery and Jobs for Tampa Bay Area and You
2. 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 February Unemployment Rates: Florida: 11.5% Tampa Bay Area: 11.5% National: 8.9%
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4. “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 American Recovery and Reinvestment Act 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
5. 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
6. 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 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
7. 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
10. 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
11. Head Start Recovery Act invests in early childhood education Hillsborough:$12 million Pinellas: $802,000 Lutheran Ministries’ Head Start: $86,000
12. “New Building Inspired by Jazz Legend” Ch. 13, March 21, 2011 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
13. I-4/ Crosstown ConnectorBreaks Ground Tampa Bay Business Journal, April 9, 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
14. The Miracle on U.S. 19 St. Petersburg Times, June 14, 2009 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
15. 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. Stimulus Funds to Help St. Petersburg-Clearwater Airport’s Terminal Building Tampa Bay Business Journal, April 9, 2009 Transportation – Our Region’s Airports $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
17. How Tampa Leads the NationSource: New York Times/ July 9, 2009
18. High-Speed Rail More than $2.6 billion was directed to Florida for high-speed rail Would have created more than 20,000 jobs Civic, business and elected leaders worked together to save HSR and fought to keep these jobs in Florida Gov. Scott killed the initiative Rally in Tampa toSupport High-Speed Rail TBO.com,Feb. 18, 2011
19. 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 allowed Community Health Centers of Pinellas to open Women’s Health Center New community health center open in East Tampa New clinic opened in North Tampa Manatee County Rural Health Services adding exam rooms and hiring medical professionals
20. Research – Tampa Bay’s High-Wage Jobs of the Future Significant competitive research grants through NIH and NSF $25 million awarded to Moffitt Cancer Center, supporting more than 400 jobs Money will support cancer research and M2Gen partnership with Merck More than $24 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
23. International Ship and Marine Services, Tampa Ship, Gulf Marine RepairRiverhawk Marine, Diversified Marine Tech, Port of Tampa benefit
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25. 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”
26. Pinellas County Urban League Helps Create New JobsWeekly Challenger, September 10, 2010 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, including new solar panels at old county courthouse Energy audits, building retrofits, reduce and capture greenhouse gases, new street lights, for government buildings $18 million to Tampa Bay region Hillsborough County Courthouse Real-Time Solar Monitoring – 10/28/2010 9:23 am
27. 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
28. COPS – Keeping Us Safe Stimulus Money To Allow Hiring of Tampa Bay Officers St. Petersburg Times, July 28, 2009 $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
29. PaperFree Florida USF Ready to Hire for Medical Data Project St. Petersburg Times, April 14, 2010 University of South Florida received $6 million USF striving to be in forefront of electronic medical records initiative PaperFree Florida creates jobs and reduces costly medical errors