economic development resources: knowledge, data, reports, etc.

Contact your local Workforce Investment Board (WIB) ASAP and ask them to set aside some dislocated worker (rapid response) dollars for "Layoff Aversion" which translates into Business Retention!  These funds are not for employment generating activities such as business attraction or expansion.

Wayne Schell , President & CEO, California Economic Development Corporation

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Executive Summary
The federal government is in the initial stages of implementing a $787 billion economic recovery
plan to provide new funding to states, local governments, schools, businesses, and working
families in an effort to turn the tide in the current economic crisis.  The state must seize this
opportunity by putting forth a comprehensive blueprint to guide the state's economic and
workforce development actions.

Summary
The recently enacted federal economic stimulus package-titled the American Recovery and Reinvestment Act (ARRA)-commits a total of $787 billion nationwide. As reflected in the figure below, this funding provides: (1) $330 billion in aid to the states, (2) about $170 billion for various federal projects and assistance for other non-state programs, and (3) $287 billion for tax relief.

The California Association for Local Economic Development presented the California Stimulus Summit last week. The purpose of the event was to present information on understanding the American Recovery and Revitalization Act of 2009 and what it means to California. The timing of the event came on the heels of the state legislature approving the state's budget. This provided a great venue for the speakers to illustrate opportunities.

The American Recovery and Reinvestment Act of 2009, ARRA has been passed. The bill is a combination of spending and tax provisions equaling $787 billion over 10 years. It is expected to create or save 3.5 million jobs over the next two years. The Act provides $311 billion in spending appropriation and $476 billion in tax provisions. From this federal stimulus package, California is expected to receive $78 billion.

EXECUTIVE SUMMARY

APPROACH

Comparing the $827 billion Senate and House economic recovery plans drafted by
Senate Democrats and moderate Republicans with an $820 billion version

The Northwest Progressive Institute Advocate reported that, "Earlier today [January 28, 2009], by a vote of 244-188, the U.S. House of Representatives voted to pass the American Recovery and Reinvestment Act - the massive economic stimulus package that President Barack Obama has requested from Congress."

As we begin the second year of my term as CALED's Chairman of the Board, I am amazed at how much we have accomplished in this last year-not only us as an association, but also us as a profession. At the beginning of my term, we outlined what our goals were over the next two years and I am pleased to share some of the highlights with you.