SEATTLE, Aug. 17 /PRNewswire-FirstCall/ -- A new analysis conducted by Onvia (Nasdaq: ONVI), the leader in gBusiness solutions and the creator of Recovery.org, reveals that the "Recovery Summer" being promoted by the White House is poised to usher in a wave of new jobs in the second half of this year.
For a complete look at the heat map please visit: http://promotions.onvia.com/documents/map_arra_private_sector_jobs_impact.pdf
To date, only one-third of the Recovery Act's $275 billion that is allocated for projects to create private sector jobs on Main Street has been awarded. The remaining $218 billion represents a substantial amount of new projects that are about to get under way across the U.S.
Top line findings:
- 714,589 private sector jobs have been supported nationwide by Recovery Act project spending since its passage. These do not include public sector jobs created by stimulus grants to states and those paid by the government. Recovery Act project spending in 2010 is expected to generate a 27 percent increase in this figure by the end of 2010.
- $57.5 billion has been awarded to private sector contractors to fulfill Recovery Act projects, just one-third of the $275 billion allocated for private sector projects.
- Arkansas, North Carolina, Colorado, Maryland and Pennsylvania are the top five states for ARRA project per capita spending-to-date. Wisconsin, Illinois, Tennessee, Nevada and Utah are the bottom five states.
- North Carolina, Vermont, Illinois, and Nevada are projected to be the top five states for private sector job creation resulting from ARRA project contract awards in the remainder of 2010. Maryland, Wyoming, Alabama, Alaska and Oregon are projected to be the bottom five states.
These findings were derived from Onvia's data through August 11, 2010 - approximately 18 months since the stimulus money began flowing into the states. For a complete look at the heat map and report please visit: http://promotions.onvia.com/documents/Recovery_Summer_Update_by_Onvia.pdf
"Onvia's analysis shows that while job creation since the Recovery Act's passage has been slow to take hold on Main Street, job creation in the remainder of 2010 is expected to turn around with lagging states seeing an increase of 50 to 100 percent or more in private sector job creation," said Michael Balsam, Onvia chief strategy officer. "The best way for businesses to accelerate job growth in their states is to become part of the gBusiness marketplace, take part in the bid process, prepare for a wave of contract awards and follow these projects all the way through completion.
As of August 11th, 2010, Onvia was tracking roughly 72,000 Recovery Act projects valued at $150 billion, of which 24,500 projects totaling $57 billion had been awarded to contractors.
For more than 12 years Onvia (Nasdaq: ONVI), the gBusiness Innovator, has been successfully delivering the research, analytics and tools required for companies to succeed at the intersection of business and government, or gBusiness, market. Onvia tracks, analyzes and reports the spending of more than 89,000 federal, state and local government agencies, giving companies a single source for conducting open, intelligent and efficient business with government. Along with providing an exclusive suite of integrated business tools, Onvia is also the creator of Recovery.org, a website that tracks economic recovery-funded projects, and DemandStar, the automated system that streamlines agency procurement processes. For information about Onvia visit www.onvia.com.
SOURCE Onvia.com, Inc.