GOVERNOR CORZINE ANNOUNCES RELEASE OF FIRST QUARTER RECOVERY ACT DATA FOR NEW JERSEY

GOVERNOR CORZINE ANNOUNCES RELEASE OFFIRST QUARTER RECOVERY ACT DATA FOR NEW JERSEY Almost 20,000 state-created or retained jobs reported in New Jersey through American Recovery and Reinvestment Act (ARRA) funding TRENTON - Governor Jon S. Corzine today announced the release of the first quarterly report on American Recovery and Reinvestment Act (ARRA) funds received and expended through September 30, 2009. Of the nearly $3.2 billion reportable awarded amount, $2.8 billion has resulted in job creation programs to date. The nearly $310 million expended to date has resulted in the creation or retention of almost 20,000 jobs for New Jersey residents. These figures do not include jobs indirectly created or induced. Additionally, more than $400 million have been awarded to New Jersey by federal funding agencies and are in the programmatic planning stages. These funds will flow through various projects throughout the state and continue to foster economic growth and job creation. “It’s clear that our early action on a recovery plan and our strong partnership with the Obama administration created and saved vital jobs during the worst global economic crisis in decades,” Governor Corzine said. “While data show that these critical investments have helped us begin to see the end of the path of this crisis, we will continue to work around the clock until everyone in our State who wants and needs a job has a strong stable job. “This first quarterly report for New Jersey represents many months of work in aggressively pursuing maximum ARRA funding for our state and its citizens. In doing so, we have ensured accountability and transparency of funds through state level agencies as well as through our Recovery Accountability Taskforce.”

The data released today was submitted to the federal government in draft form on October 10, 2009 in accordance with federal law. It was then reviewed by New Jersey as well as by the federal funding agencies. The information will be found on the federal ARRA website, www.recovery.gov and will be linked on New Jersey’s recovery website at www.nj.gov/recovery/ The funds reported represent merely a portion of all ARRA funds received and expended in New Jersey to date. Funds not reportable include hundreds of millions of dollars of stimulus funds spent in increased Medicaid funding, unemployment insurance funding, and many other funds which go to support New Jersey families such as Temporary Assistance for Needy Families (TANF). New Jersey will receive approximately $17.5 billion in benefits from ARRA funds between 2009 and 2011. This includes about $7.3 billion in tax benefits due to changes under the ARRA. A specific break down of ARRA distribution can be found on the New Jersey recovery website. By federal law ARRA fund recipients are required to make quarterly reports detailing amounts expended, project activities during the quarter or relevant data period, direct jobs created or retained, and details regarding sub recipients and vendors. State government entities only reported on funds that flowed directly through state agencies. Local governments, businesses, and non-profits in New Jersey who received ARRA funds directly from the federal government reported separately as prime recipients and their efforts have added to the state’s job creation total. The federal Office of Management and Budget as well as each federal funding agency issued specific guidance to all ARRA fund recipients advising of the precise data points and calculations to be used. For instance, federal guidance made clear that recipients of ARRA funds could report direct jobs created or retained. Additionally, the jobs were calculated on a Full time equivalent (FTE) basis. Because the jobs data supplied cannot include indirect jobs (created by suppliers paid with ARRA funds to fill orders for ARRA funded projects) or induced jobs (created in the community around an ARRA funded project) information, the numbers differ from those estimated by the White House Council of Economic Advisors. American Recovery and Reinvestment funds are complementing Governor Corzine’s Economic Assistance and Recovery Plan, announced in last October. The Governor’s Economic Assistance and Recovery Plan was the first comprehensive economic recovery plan at the state level. Since then, the Governor has advanced numerous efforts to stimulate New Jersey’s economy, create jobs, combat hunger, provide home energy assistance, and take proactive initiatives to prevent home foreclosures – all in response to the national economic recession. ### NEW JERSEY ARRA HIGHLIGHTS FACTS SHEET · Recovery Act funds created or retained over 14,000 jobs in K-12 and Higher Education fields including faculty, adjuncts, administration and student services. · Over 1000 New Jerseyans were fully employed as of September 30^th on transportation related projects. · Nearly $210 million in unemployment payments to help New Jerseyans who have lost their jobs due to the recession. · Nearly $860 million in Medicaid assistance to help pay healthcare costs for New Jerseyans. · Over $7.5 billion in tax benefits to New Jersey citizens.

GOVERNORS PRESS... can be reached via email at robert.corrales@gov.state.nj.us.

Comments

Jobs?

posted by GOPanimal

I guess all those with new jobs forgot to tell the unemployment folks. Unemployment in September is the highest it's been in 33 years and I'll bet anyone a pint that it's 10% or higher by Christmas.

10/30/09 4:32 pm

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$250,000. per job !!!!!!!

posted by mrb

"The nearly $310 million expended to date has resulted in the creation or retention of almost 20,000 jobs for New Jersey residents. ...that a cost of $ 250,000 per job ! "

10/30/09 5:41 pm