Economic Stimulus Package Essential for Quick Recovery
Accelerating Infrastructure Projects Key to Boosting Economy
IRVINE, CA — Governor Arnold Schwarzenegger’s hard line position holds as he vetoed the Democratic budget bills last week which failed to meet his compromise reforms. The Orange County Business Council (OCBC) agrees with Governor Schwarzenegger that a stronger economic stimulus package is key to stop the state’s bleeding. In the middle of the Governor’s sought economic stimulus efforts include an acceleration of existing infrastructure projects through performance based infrastructure (PBI) and design/build contracting.
“One of OCBC’s top priorities is enhancing infrastructure investments; this means jobs created and an economy strengthened,” noted OCBC President and CEO Lucy Dunn. “The state needs a long term viable solution and it starts with leadership at the state level.”
Current estimates hold that that California needs to invest half a trillion dollars in new infrastructure to keep its economy moving over the next 20 years. The state’s current fiscal constraints make it imperative that California receive the maximum return on its infrastructure investments.
Performance based infrastructure can already be credited with some of Southern California’s most successful projects in recent years. These include State Route 22, State Route 91 Express Lanes and the Santa Ana Courthouse.
Many other projects that could benefit from PBI are in the design stage, including the Anaheim Regional Transportation Inter-Model Center (ARTIC), touted by U.S. Transportation Secretary Mary Peters in a recent visit to Orange County.
The business community urges our elected officials in Sacramento not to give up on this issue and commends Governor Schwarzenegger’s leadership in this regard.