Private Capital Available to Create Nearly 2 Million Jobs When Coupled with Stimulus Plan
KANSAS CITY (PRNewswire-USNewswire), January 26, 2009 - A new report, "Benefit of Private Investment in Infrastructure," outlines how the Obama Administration could grow the expected 377,000 jobs to come from government investment in infrastructure to 2 million jobs by combining public and private investment.
A key goal of the administration's American Recovery and Reinvestment Plan is to create 3 million jobs by the end of 2010, of which infrastructure jobs currently represent 10 percent, or 377,000 jobs.
If the government investment is teamed with private investment, the approximate $180 billion of dedicated capital currently available for global infrastructure projects can create up to $450 billion for investment in the U.S. infrastructure market.
This would create 2 million jobs in infrastructure alone, which could create jobs for 17 percent of those currently without employment. The benefits of private investment must be considered along with the stimulus package, infrastructure bank, and SAFETEA-LU.
"Public-private partnerships (P3) are about leasing assets to maximize taxpayer value while government retains ownership of the asset. Among other state and local governments, the State of Indiana and the City of Chicago have successfully demonstrated how to achieve value and accelerate job growth through bipartisan P3 solutions," said Rob Collins, Managing Director and Head of Infrastructure Banking at Morgan Stanley.
"We see strong public oversight and private investment as a unique opportunity to bring government and business together and partner to create solutions and quicken the road to a stronger economy," said Jim Courtovich, Managing Partner of Kearsarge Global Advisors. "First, political leaders have to make the decision to be competitive for this $180 Bn of private capital, and once that is done, there are many ways to deploy these dollars."
Continued Next Column
|
Labor Market in Missouri Continues to Weaken
KANSAS CITY (PRNewswire-USNewswire), January 26, 2009 - Labor market conditions in Missouri continued to weaken in December, as the national economy continued to deteriorate, according to data released by the Missouri Department of Economic Development.
Nonfarm payroll employment in the state decreased by a net 1,600 jobs, on a seasonally adjusted basis, from the November level, while the state's unemployment rate increased by half a point to 7.3 percent.
Over the past year, payroll employment in Missouri has decreased by 26,500 jobs, or 0.9 percent. In that same period, the state's jobless rate has increased by 2 percentage points.
In response to the difficult economic conditions, Governor Jay Nixon announced his Show-Me JOBS Initiative, a bipartisan plan to get Missourians back to work and support small-business growth, last month. On his first full day in office on Jan. 13, the Governor signed three executive orders that are part of Show-Me JOBS, including the establishment of the Missouri Automotive Jobs Task Force; the establishment of the Governor's Economic Stimulus Coordination Council; and the creation of a $2 million pool of funds for small business loans.
Advertisements
|
67% of Workers Confident That Barack Obama Will be Good for the Job Market
The Kansas City Front Page is owned and maintained by the Moore Design Group for the sole purpose of disseminating news and information about the Metropolitan Kansas City area. Text or graphics may not be copied, rewritten or distributed in any manner whatsoever without written permission. For more information, contact editor@slfp.com All rights reserved world wide © 2007 - 2009 Moore Design Group.