The economic stimulus package signed into law by President Barack Obama yesterday will have construction equipment humming and will create some 2 million jobs in the construction industry over the next two years.
That's according to the Association of General Contractors of America (AGCA) which concluded that the $135 billion that will be spent on infrastructure and construction projects should be able to bring back many of the construction jobs lost in the last few years.
According to figures from AGCA economist Ken Simonson and Steven Fuller of George Mason University, the stimulus package will save or create 650,000 construction jobs, 300,000 jobs in related fields like construction equipment supply, and 970,000 jobs in the broader economy.
"There's no doubt the stimulus will have a positive impact for construction businesses and their workers across the country," Stephen Sandherr, AGCA CEO told northfulton.com. "When you get beyond the politics and the policy, the fact remains these investments will put people to work, save businesses, and help rebuild aging infrastructure."
During a press conference last week at a Virginia construction site, Obama pledged that the stimulus plan would create jobs across the country.
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