What the Stimulus is Doing
29 Sep2009
Filed Under Housing Market · Tagged: economy, stimulus · Print This Article
Remember the stimulus? After it passed, it seemed like no one talked about it anymore. But as we hear reports from economists that the recession may be dying down, it’s worth looking at where some of this money is going.
While the money doesn’t affect housing exactly, we have definitely learned the economy as a whole affects housing. Remember, unemployment and job losses cause people to lose their homes which increases inventory and lowers the number of buyers in the market.
The government has promised transparency, and there is information on websites at both the state and federal level about where this money is being spent or for what it’s planned.
Here’s a chart from Ohio’s page, (and one from Kentucky’s page.) This shows which categories are receiving (or planned to receive) the money that the states get. You’ll see both states allotted the most money to healthcare coverage (presumably because of the high unemployment levels – Ohio’s site specifically references COBRA assistance) and to education.
Remember, this is the whole state. Focus is on job retention/creation across the sectors, relieve people most hit by recession (unemployed and underemployed, small businesses, etc.), and be a springboard for helping reduce pollution and energy inefficiency.
In Hamilton county, specifically, there is a long document with information with many more specifics about where the money is being spent. A couple of them you might recognize as things that were promised – road construction projects, and funding to local police to retain staff. Here are some highlights:
–Transportation – Roads, Bridges & Rails: $29,300,000
- Funds construction projects for roads, bridges and rails
–Department of Defense Projects: $2,704,000
- Provides funding for repairs to facilities at the Marine Corps Reserve Base in Cincinnati
–COPS Hiring Recovery Program (CHRP): $17,342,000
- Provides funding directly to law enforcement agencies to create and preserve jobs and to increase community policing capacity and crime-prevention efforts
–Department of Homeland Security Transportation Infrastructure Security Program Grants: $2,638,000
- Provides funding under six DHS transportation infrastructure security programs designed to strengthen the nation’s ability to protect critical infrastructure facilities and transit systems
–Individuals with Disabilities Education Act (IDEA): $31,927,000
- Provides funds to ensure that early intervention, special education, and related services are available to children born with disabilities
–Clean Water State Revolving Fund (WPCLF): $5,000,000
- Provides financial and technical assistance to improve or protect Ohio’s rivers, streams, lakes, and other water resources
–Community Health Centers – Increased Demand for Community Health Center Services (IDS): $1,238,000
- Provides grants to expand services offered by Community Health Centers, enabling them to serve more patients
–Community Development Block Grant (CDBG): $4,403,000
- Provides grants for community development activities such as affordable housing, anti-poverty programs, and infrastructure development
–Workforce Investment Act (WIA): $5,162,000
- Assists adults, youth and dislocated workers with job training and job search activities and youth employment services
–Senior Community Service Employment Program (SCSEP): $383,000
- Provides employment opportunities for older Americans through high quality job training and employment assistance to participants
If you are interested in a multitude of details about the stimulus money, visit recovery.ohio.gov or kentuckyatwork.ky.gov. And of course you can find information at recovery.gov, although this has all the same details about the state level allocations.
Here’s a recent article about the start of some of these road projects (from Cincinnati.com).
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