Monday, February 8, 2010

MoDOT Recovery Act Funds Obligated Ahead of Schedule

MoDOT meant business when it set out to show the world that transportation projects could have an immediate impact on creating jobs and boosting the economy. Before the ink was dry making the American Recovery and Reinvestment Act law, Missouri had signed a contract and began construction on the nation’s first stimulus project.

Keeping that momentum rolling, MoDOT has now obligated all of the $524.6 million it received in recovery act funds for MoDOT-administered projects well in advance of the March 2nd deadline.

“From launching the nation’s first transportation stimulus project to obligating all of our recovery act funds ahead of schedule, MoDOT has worked rapidly to show that transportation projects do play an integral role in supporting jobs and rebuilding our nation’s economy,” said MoDOT Director Pete Rahn. “While these funds don’t come close to covering all of our transportation needs, they have helped fill a short-term gap as other federal and state resources continue to decline.”

To date, the Missouri Highways and Transportation Commission has awarded 187 economic stimulus projects totaling $469 million. The ARRA funding awarded to date will support 12,524 direct, indirect and induced jobs based on Federal Highway Administration estimates.

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