An estimated $12.2 billion in federal stimulus funding should help Florida shore up some of the holes in the state budget and put thousands of Floridians to work. The money will mostly fund transportation projects but is expected to do little for the buildings segment of the industry.
Florida Gov. Charlie Crist (R) broke with members of his party and promoted the adoption of the American Recovery and Reinvest Act of 2009. In announcing a new state budget Feb. 20th, Crist and state officials said stimulus funds will add approximately $4.7 billion in revenues for 2009-10, thus reducing the future cuts. Approximately $3.2 billion in stimulus funding will be utilized with the state’s current fiscal year.