Gov. Ritter and his Economic Recovery Team today released an update on Recovery Act funds that have been spent in Colorado and how much is on its way. Using a conservative estimate, $212.8 million from the American Recovery and Reinvestment Act has been spent in Colorado. That includes increased payments for Medicaid services, increased unemployment benefits to laid-off workers, and one-time $250 checks to Social Security recipients.
In the next four months, state and local agencies across Colorado expect to receive more than $1 billion through more than two dozen programs. These dollars include $1.2 million for meals to low-income seniors, $7 million in research grants to CU doctors and scientists, and more than $60 million for about 30 drinking water and wastewater improvement projects. The report is one of the only statewide updates available.
"The Recovery Act has been supporting working families and individuals across Colorado to make ends meet during this difficult economic time," Gov. Ritter said. "Now we are seeing the launch of a wave of projects that will provide long-term benefits to the state. At the same time, my staff is helping to make sure a significant amount of funds is directed toward boosting our New Energy Economy."
Dozens of public works projects have begun or are set to begin in the next couple months, including school facility and airport improvements, transit and highway projects, and weatherization work in thousands of homes across Colorado.
Over the next two years, Colorado expects to receive up to $7 billion in overall Recovery impact from this landmark law.
The report and other information is available at www.colorado.gov/recovery.
