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February 6, 2009

Stimulus could bring $317M in construction investment

By The Mainebiz News Staff

Maine stands to receive at least $317 million in new construction investments as part of the federal economic stimulus package being debated by Congress, the Associated General Contractors of America said today.

The funding would add jobs, boost personal earnings, increase state economic activity and help fund vital transportation projects like the expansion of the Portland International Jetport and improvements to I-295, according to John O'Dea, CEO of the association's Maine chapter. The estimated construction funding levels for Maine would create or sustain roughly 7,680 jobs statewide, including 3,850 jobs outside the construction industry; increase personal earning levels statewide by $220 million; and boost Maine's gross state product by over $670 million, O'Dea said.

In the past year alone, 3,200 construction workers - more than 10% of Maine's construction work force - have lost their jobs, according to O'Dea.

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