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Private Capital Available to Create Nearly 2 Million Jobs When Coupled with Stimulus Plan
ST. LOUIS (PRNewswire), January 25, 2009 - A new report, "Benefit of Private Investment in Infrastructure," outlines how the Obama Administration could grow the expected 377,000 jobs to come from government investment in infrastructure to 2 million jobs by combining public and private investment.
A key goal of the administration's American Recovery and Reinvestment Plan is to create 3 million jobs by the end of 2010, of which infrastructure jobs currently represent 10 percent, or 377,000 jobs.
If the government investment is teamed with private investment, the approximate $180 billion of dedicated capital currently available for global infrastructure projects can create up to $450 billion for investment in the U.S. infrastructure market.
This would create 2 million jobs in infrastructure alone, which could create jobs for 17 percent of those currently without employment. The benefits of private investment must be considered along with the stimulus package, infrastructure bank, and SAFETEA-LU.
"Public-private partnerships (P3) are about leasing assets to maximize taxpayer value while government retains ownership of the asset. Among other state and local governments, the State of Indiana and the City of Chicago have successfully demonstrated how to achieve value and accelerate job growth through bipartisan P3 solutions," said Rob Collins, Managing Director and Head of Infrastructure Banking at Morgan Stanley.
"We see strong public oversight and private investment as a unique opportunity to bring government and business together and partner to create solutions and quicken the road to a stronger economy," said Jim Courtovich, Managing Partner of Kearsarge Global Advisors. "First, political leaders have to make the decision to be competitive for this $180 Bn of private capital, and once that is done, there are many ways to deploy these dollars."
Labor Market in Missouri Continues to Weaken
ST. LOUIS (PRNewswire), January 25, 2009 - Labor market conditions in Missouri continued to weaken in December, as the national economy continued to deteriorate, according to data released by the Missouri Department of Economic Development.
Nonfarm payroll employment in the state decreased by a net 1,600 jobs, on a seasonally adjusted basis, from the November level, while the state's unemployment rate increased by half a point to 7.3 percent.
Over the past year, payroll employment in Missouri has decreased by 26,500 jobs, or 0.9 percent. In that same period, the state's jobless rate has increased by 2 percentage points.
In response to the difficult economic conditions, Governor Jay Nixon announced his Show-Me JOBS Initiative, a bipartisan plan to get Missourians back to work and support small-business growth, last month. On his first full day in office on Jan. 13, the Governor signed three executive orders that are part of Show-Me JOBS, including the establishment of the Missouri Automotive Jobs Task Force; the establishment of the Governor's Economic Stimulus Coordination Council; and the creation of a $2 million pool of funds for small business loans.
Continued Next Column
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UMSL to Hold Job Fair
ST. LOUIS (PRNewswire), January 25, 2009 - The University of Missouri-St. Louis will host a Job Fair, Friday, January 30, 2009, from 10:00 am - 2:00 pm, at the Mark Twain Building.
Job applicants will have an opportunity to meet and discuss internship & employment opportunities with 77 employer representatives in one location! Admission for UMSL students/alumni who do not pre-register is $5.00 at the door and for non-UMSL job seekers is $10.00 at the door.
For more information, visit UMSL Career Services, 278 Millennium Student Center, or call 314-516-5111.
Archived Stories:
 67% of Workers Confident That Barack Obama Will be Good for the Job Market
U.S. Department of Labor Awards Nearly $123 million in Community-Based Job Training Grants
New Year's Resolutions Include Finding a New Job
Planning Ahead May Be Just As Risky As Rewarding
Missouri Department of Labor Hires More Workers to Assist the Unemployed
Slower, More Cautious Hiring Expected in New Year
Labor Grant to Assist Missouri Workers
Young Jobseekers Say Job Security More Important During Tough Economic Times
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