This morning I was on a conference call with management of a company I do some business with, McDonald Transit Associates (MTA) of
While making small talk waiting for the conference call to begin, I asked Dr. Robert Babbitt, President of MTA when his client cities were going to see some of the American Recovery and Reinvestment Act (ARRA) stimulus funds flowing into their cities. “We have already seen $12 million go to several of our clients for replacing equipment, repairing buildings, and expanding systems.” Babbitt answered.
I was impressed. Just last week I was researching how quickly federal funds would start showing up to fund infrastructure projects. I wasn’t very impressed with what I learned, but then last week I didn’t research the Federal Department of Transportation.
It seems the Federal Department of Transportation is one of the agencies that on the ball and getting funds to the states for projects pre-identified.
The Arizona Republic reported on March 6, 2009 that
During a conversation with Dr. Babbitt of MTA back in early October 2008, he indicated that because of the cost of fuel and consumer belt tightening, 2008 was a record year for ridership for nearly all their 42 transit systems they manage. Articles I read before writing this blog echoed Babbitt’s comments.
Perhaps our country will see significant benefit out of the $8.4 billion set aside for mass transit in the ARRA.
Sam Thacker is a partner in Austin Texas based Business Finance Solutions.
You may contact Sam directly at: firstname.lastname@example.org
or follow him on Twitter: SMBfinance
EXTRA: If you have questions for Sam regarding business financing, the credit market, and similar issues, please send an e-mail. Your questions will be recorded and Sam will answer the best ones in his Ask the Expert podcast show.