NEW YORK — Chemical makers stand to get a much- needed boost as an indirect recipient of the billions in government money promised in the stimulus package signed by President Barack Obama last week.
The ailing industry was hammered in 2008, first by sky-high energy prices and then by plummeting consumer spending.
Of the $787 billion in the stimulus bill, at least one-tenth is allocated to projects that could benefit chemical companies.
The package provides incentives for weatherizing homes and using alternative energy. It also allocates billions for infrastructure proj ects.
Chemical companies make items such as insulation for home attics, films for solar cells and coatings on bridges. Some of their products create or conserve power, placing the industry at the nexus of an intensifying national conversation on energy usage.
Their products are also found in cars and appliances, products that shoppers shunned at the end of 2008.
