Seattle - Government spending at all levels will remain level or increase pace in the second half of 2009, as federal American Recovery and Reinvestment Act (ARRA)-funding continues to help stabilize state and local budgets, according to a mid-year report released by Onvia, a provider of business-to-government data based in Seattle.
Of the almost $90 billion in funded recovery projects to-date, nearly $15 billion in contracts have been awarded, with that number now accelerating monthly, the report says. Applying the Federal government’s multiple standards for measuring jobs impact to ARRA contract awards to date, the high end of the scale represents 160,000 jobs saved or created.
Additional factors to watch for in the second half of 2009 include an early stage rebound of construction-related companies such as heavy equipment manufacturers and materials suppliers, with growth expected to increase into 2010. For federal, state and local government, there will also be a continued buyers market as bids come in well below estimates and stretch tax-payer dollars further.
Onvia’s Government Market Outlook: 2009 Mid-Year Review summarizes the findings of more than 2,000 government executives, managers and purchasing officials at state, local, and educational purchasing offices, while providing the most current data available of the federal government’s economic stimulus-funded awards, across infrastructure, information technology and business services.