State government leaders and business luminaries gave examples Friday of how federal economic-stimulus funds are laying the groundwork for stabilizing the economy — through boosts in highway-project contracts and by plugging gaps in the state’s budget, among other areas.
Gov. Bill Ritter praised state transportation officials for quickly obligating 95 percent of stimulus-funded highway construction — about $137 million — that’s required to be spent by June 29.
As a backdrop to signing the state’s $7.9 billion budget Friday, Ritter pointed to those projects, as well as hundreds of millions in American Recovery and Reinvestment Act dollars that will help prevent layoffs and deep reductions in education.
“We think of the act as part of a bigger strategy at the Capitol to emerge from the downturn,” Ritter said during a speakers’ event downtown to update the state’s use of economic-recovery funds.
It’s estimated the state will receive $3 billion in direct stimulus funding. Denver has already allocated more than $40 million in recovery funds, and officials are enthusiastically exploring how to spend the funds.
“We’re having great policy debates,” Amy Mueller, Denver’s deputy chief of staff to Mayor John Hickenlooper, said of staff discussions on how to use energy block grants and other funds.
“Do we fund weatherization for low-income homes … or job training for small businesses?” she said.
Don Elliman, chairman of the state’s Economic Recovery and Accountability Board, said his staff has identified “140 different funding streams” through which ARRA dollars will flow.
Miles Moffeit: 303-954-1415 or mmoffeit@denverpost.com
