Federal Construction Funds Delayed Until Late '09

摘要

President Obama's $825 billion economic stimulus plan includes $51 billion for nonresidential buildings and multifamily housing construction in 2009-10, according to preliminary details announced by the House Appropriations Committee. This plan would provide a 4% boost in construction work in both years, allowing for a 20% leakage to pre-start, off-site expenses and to post-completion furnishings. A 4% boost in 2009 would keep inflation-adjusted construction spending about steady throughout the year, according to BD+C, which assumed a much smaller impact from the economic stimulus plan.