New Data Confirms Recovery Act Creating Jobs in Maryland

State Report on Recovery Contracting Shows Significant Investment, Job Creation

Washington, Oct 15, 2009 -- Members of Maryland’s Congressional Delegation issued the following statement today after the Obama Administration released preliminary Recovery Act reporting on federal contracting for each state.

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The data reports that Maryland contractors have been awarded a total of $590 million and have directly saved or created approximately 965 private sector jobs. Today’s numbers are the first to be issued by the independent Recovery Accountability and Transparency Board, and are a preview of the comprehensive Recovery Act report to be released on October 30th.

“The data released today revealing that nearly 1,000 private sector jobs have been created or saved in Maryland through the Recovery Act is more evidence that the measure is working to grow the job market and rebuild the economy in our state and around the country. This data represents only a sliver of the Recovery Act funds awarded so far and has exceeded original estimates for this sector of the Recovery.

“In addition to job creation, the broader impact on the economy can be seen in stronger stock and housing markets, and a rebounding GDP. While unemployment is not where we would like it to be, it is now clear that without the Recovery Act the jobs outlook would be far worse, and as the economy continues to recover, we are hopeful that employers will increase their hiring.

“In the meantime, Congress will continue to focus on creating and saving more jobs and strengthening the economy. We are encouraged by what we see in the preliminary reporting of the Recovery Act that it is doing its job to help achieve these goals.”

Altogether, the Recovery Accountability and Transparency Board is reporting that the first $16 billion in Recovery Act spending subject to reporting directly saved or created more than 30,000 jobs. The data covers just $16 billion of the $339 billion in Recovery Act efforts undertaken before September 30th – showing what was done with just 5% of the Recovery Act money put to work so far. Many of the contracts subject to reporting today are just getting underway in terms of job creation – about two thirds of the contracts haven’t started or are less than half done.

A comprehensive Recovery Act report - incorporating about 10 times as much funding - will be available on October 30th. The October 30th report will show Recovery Act activity in the states, in local efforts, and though private sector Recovery Act initiatives. For more information on the federal contract data and general Recovery Act information, see http://www.recovery.gov/pages/textview.aspx?data=homeMapRecipient

The statement was released by Senator Barbara Mikulski, Senator Benjamin L. Cardin, Congressman Steny H. Hoyer, Congressman Elijah E. Cummings, Congressman Chris Van Hollen, Congressman C.A. Dutch Ruppersberger, Congressman John P. Sarbanes, Congressman Donna F. Edwards, and Congressman Frank Kratovil.

Source: Congressman Chris Van Hollen