The Stimulus is Here – What Now? · Environmental Leader · Green Business, Sustainable Business, and Green Strategy News for Corporate Sustainability Executives

February 16, 2009

The Stimulus is Here – What Now?

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Private enterprise and government have a monumental task ahead – determine how best to maximize the funding windfall, and fast.

The new stimulus package – signed and sealed – contains about $50 billion for the energy sector, including much in the way of developing and promoting alternative energy sources.

With a floundering economy, President Obama wants to make an immediate impact with the money. He’s been pushing so-called “shovel-ready” job creation, according to CNN/Money.com.

A guaranteed recipient of stimulus dollars is the U.S. General Services Administration, which owns or leases more than 8,600 federal buildings in 2,200 cities. All told, it oversees more than 352 million square feet of office space, according to CNN/Money.com.

A key task for the agency, in keeping with the spirit of the stimulus, is to cut costs and emissions. It will receive $4.5 billion for energy efficiency.

Some say this jolt can create 130,000 jobs and save the GSA more than $1 billion in annual energy costs.

And while many companies and agencies will be in line for a share in the stimulus package – with many good and deserving plans, no doubt – there is fear that the government won’t be able to effectively and efficiently dole out funds.

In order to accomplish the task ahead, Energy Secretary Steven Chu thinks he’ll have to retool his agency, according to WSJOnline.com.

From Commerce to Energy, bureaucrats are wondering how their already limited staffs can accommodate the funding requests that will flood in. Even before the stimulus, projects awaiting approval have been stalled for months and years.

For instance, Massachusetts-based Beacon Power Co. has been waiting 25 months for a $50 million loan guarantee toward an electricity-storage plant, according to the article. Without the loan, Beacon can’t break ground.

And until companies can break ground on new projects, critics say, the effects of the stimulus will be limited.

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Reader Comments

Amid all the bad news and demands being placed on US President Obama, Sustainable Land Development International (SLDI) has offered a reason to hope for the future by formally submitting its offer of assistance to help boost his team’s economic recovery plan and policy agenda – and save the country billions in the process – http://www.sldi.org/Pressreleases/pressrelease122308.html

Terry Mock | February 16th, 2009