Iowa Governor Culver: Today, Our Economic Recovery Begins

Governor Culver signs I-JOBS bills into law

May 14, 2009 -- MARSHALLTOWN – After four months of work to develop a program that will create new jobs and rebuild Iowa’s infrastructure, Iowa Governor Chet Culver signed his signature economic development and disaster recovery plan – I-JOBS – into law today during a special ceremony at the Iowa Veterans Home.

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“While many communities are hard at work rebuilding from last year’s historic natural disasters, we must also face the challenges of the worst national economic recession since the Great Depression,” said Governor Culver. “Iowans cannot and will not wait for these challenges to fix themselves. That is why I proposed the I-JOBS Initiative to not only rebuild our communities, but create good paying jobs all across our state. Our economic recovery begins today, and I am proud to sign I-JOBS into law.”

In Marshalltown, the Governor signed Senate Files 376 and 477, which direct the state to issue $650 million in bonds to be used to pay for infrastructure needs statewide.

Included in these two pieces of legislation, which are the largest components of the $830 million I-JOBS initiative, are:

* $185 million for capital improvements, including $22.5 million for the Iowa Veterans Home;
* $118.5 million for local infrastructure projects;
* $100 million for vertical infrastructure projects;
* $50 million for bridge improvements;
* $55 million for sewer upgrade and water improvement projects;
* $46.5 million for targeted disaster recovery projects;
* $35 million for housing projects;
* $25 million for watershed and soil conservation improvements;
* $25 million for broadband; and
* $10 million for renewable and alternative energy projects.

Later today, the Governor travels to Iowa City, where he will sign Senate File 474 into law. The bill allows for $115 million in academic revenue bonds, with $100 million going for disaster recovery efforts at the University of Iowa, and $15 million to be used for a new veterinary sciences building at Iowa State University.

“While these projects will help us rebuild our state, we have much work to do,” added Governor Culver. “Passing the legislation was the easy part. Now, we must get to work creating good jobs and revitalizing our communities. As Governor, I look forward to working with all Iowans to make I-JOBS a success. Together, I know we can build a safer, smarter Iowa, and create the bright future we all know is possible.”

In addition to the bills signed today, an additional appropriation of $65 million was approved by the legislative for transportation projects, including $55 million for local road projects and $10 million for multi-modal transportation.

Below is a complete breakdown of I-JOBS funding:

I-JOBS: AN $830 MILLION INVESTMENT IN IOWA’S INFRASTRUCTURE, IOWA JOBS AND IOWA’S FUTURE

FUNDING FOR VETERANS HOME, COMMUNITY COLLEGES, AND OTHER PUBLIC IMPROVEMENTS: $285 MILLION

* $185 million to improve public facilities across Iowa, such as the Iowa Veterans Home, correction facilities, and our community colleges.
* $100 million for further investments in state public infrastructure, including state parks.

CONTINUING FLOOD RECOVERY AND REBUILDING: $165 MILLION

* $118.5 million in competitive grants available for reconstruction of local public buildings and flood control prevention in communities hit by last year’s disasters.
* $46.5 million in grants targeted for help to Linn County, Cedar Rapids, and to rebuild fire stations in Palo, Elkader, and Charles City.

IMPROVING IOWA’S TRANSPORTATION INFRASTRUCTURE: $115 MILLION

* $50 million to improve the safety of Iowa’s bridges.
* $55 million to cities and counties to improve local roads, including many roads still damaged by last year’s natural disasters.
* $10 million invested in airports, rail and trails.

REBUILDING IOWA’S UNIVERSITIES: $115 MILLION

* $100 Million to rebuild 10 buildings destroyed by flooding at the University of Iowa, which will allow the use of nearly $500 Million in federal funds
* $15 Million to build a veterinary hospital lab at Iowa State University

IMPROVING OUR ENVIRONMENT AND WATER QUALITY: $80 MILLION

* $35 million to help construct sewers in communities under 10,000.
* $20 million in competitive grants for communities of any size for water improvement projects.
* $25 million to water-quality projects, including flood prevention, as well as soil conservation practices.

MEETING IOWA’S HOUSING NEEDS: $35 MILLION

* $20 million invested in affordable housing for elderly, disabled, and low-income Iowans.
* $10 million to construct or improve shelters for domestic abuse, emergencies, and the homeless.
* $5 million to repair homes damaged by last year’s floods.

INVESTING IN TELECOMMUNICATIONS AND RENEWABLE ENERGY: $35 MILLION

* $25 million invested in improving access to technology throughout Iowa.
* $10 million to create a revolving loan program to support alternative energy projects to support both new jobs and energy independence.

Source: Iowa Governor