TACIR Clearinghouse for American Recovery and Reinvestment Act of 2009
It has been over two years since the American Reinvestment and Recovery Act (ARRA) was signed into law. The purpose of the ARRA was to preserve and create jobs and promote economic recovery, to assist those most impacted by the recession, to increase economic efficiency through technological advances in science and in health, and to stabilize state and local government budgets and thereby avoiding reductions in essential services and counterproductive state and local tax increases.
Funds
Tennessee received the 16th highest amount of ARRA funds nationwide. Based on federal sources, Tennessee was awarded $5.9 billion in funds (as of December 31, 2010).
- $1.61 billion in contracts
- $4.19 billion in grants
- $163 million in loans
Tennessee’s ARRA website, tnrecovery.gov, reports that Tennessee has been awarded an even greater amount of funds - a total of $6.25 billion as of February 28, 2011. The site also reports that $4.4 billion in funds has been received thus far.
Progress
The majority of Tennessee’s projects are completed or 50% completed.
| Number of Projects | Status |
|---|---|
| 134 | Not started |
| 532 | Less than 50% completed |
| 743 | More than 50% completed |
| 649 | Completed |
Jobs
The ARRA has created or saved 17,192 jobs in Tennessee, which is the 8th highest impact in the country. The majority of the jobs (83%) are due to grant funding, followed by contract funding (16.5%), and then loans (<1%).
Sources: www.recovery.gov and www.tnrecovery.gov.
ARRA Information Produced by TACIR
- Tracking Tennessee’s Economic Recovery – A joint project by TACIR and the Middle Tennessee State University Center for Business and Economic Research, this website offers users a one-stop site to track the state economy during recession recovery. Users will find information about employment and unemployment, housing, and sales tax collections. Information is presented in tabular and graphic formats and may also be downloaded.
- Provisions of the American Reinvestment and Recovery Act – A presentation by Dr. Reuben Kyle of TACIR to the Tennessee General Assembly House State and Local Committee. The presentation was made on February 17, 2009 and provides information on ARRA provisions, stabilization fund requirements, and forecasts and predictions of the stimulus impact.
Presentation by Dr. Reuben Kyle
Summary of ARRA Provisions
ARRA Stimulus Funds for Tennessee - Fiscal Impacts of Economic Slowdown on Tennessee Local Governments – A web publication that discusses how the recession has impacted local government finances. This publication details sales tax collections, property tax collections, and county-wide tax collections.
Links to Other Sources of Information on ARRA
Many organizations are tracking developments related to ARRA. Below is a list of links to these information sources, with a brief description of the contents of each site. TACIR will be updating this page periodically, as new information is available.
- Office of the President – The official U.S. Government ARRA web site. This web site allows users to track ARRA funds and it also features a data download center where users can obtain information by agency, recipient, or state. The site also provides links to the ARRA web pages of U.S. departments.
- The State of Tennessee – The official State of Tennessee ARRA web site features an overview of the ARRA, the latest Tennessee ARRA news, jobs and funds impact data and implementation guidelines. The site also provides links to the ARRA pages of Tennessee departments.
- Center on Budget and Policy Priorities – This site features a special report series entitled “Economic Recovery Watch,” which provides users with ARRA updates, unemployment data, and information about the effects of the ARRA on Americans.
- Council of State Governments – This site presents information designed to help states decipher ARRA funding opportunities.
- Federal Funds Information for States – This site provides information on ARRA allocations, guidance on reporting and compliance, competitive grant updates, and information on ARRA extensions.
- Government Accountability Office – This web site features bimonthly funds tracking reports, jobs data, and contract oversight activities. The site also allows users to report ARRA fraud, waste, or abuse of funds.
- Internal Revenue Service – This web site presents information about ARRA tax provisions, for both individuals and businesses. Individuals can find information on topics such as home buyer tax credits, education benefits, unemployment benefits, and health coverage tax credits. Businesses can find information on topics such as the Making Work Pay tax credit, Work Opportunity tax credit, COBRA, and municipal bond funds.
- National Conference of State Legislatures – This site provides an overview of the economic recession, provisions of the ARRA, information on legislative authority, and summaries of specific provisions of the ARRA such as those concerning the Americans with Disabilities Act, the Buy American provision, and Maintenance of Efforts requirements.
- Office of Management and Budget – This U.S. government site provides guidance on implementing the ARRA.
Updated April 2011
Governor Bill Haslam
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