Developing renewable and clean technology companies in New York
Tuesday, December 15, 2009
NYS to receive $31 billion in stimulus funds
New York will receive at least $31 billion in American Recovery and Reinvestment Act (ARRA) funds, part of $420 billion that will be appropriated to states and other recipients over the length of the federal stimulus program, according to a just-released report. New York will also continue to apply for some of the $44 billion in additional funding available through competitive grants, which may increase the final allocation.
As determined by Congress, the stimulus funds awarded to New York are distributed through three categories:
Infrastructure: New York will receive $3 billion for infrastructure projects, including $2.4 billion for transportation and about $571 million for clean water, drinking water and wastewater projects.
Aid to States and Localities: New York will receive $16 billion to support the State and county governments and school districts, including $11.1 billion for Medicaid and about $4.8 billion for education.
Aid to Individuals: New York will receive $6.7 billion in payments to individuals, including $3.9 billion in increased unemployment insurance, $1.3 billion in increased food stamps, $845 million in increased Social Security and Supplemental Security Income payments and $653 million in increased Pell grants to college students.
The remaining $5 billion targets a variety of projects, including housing, job training, health, energy and public safety.