Barack Obama will ask Congress for a huge stimulus package of hundreds of billions of dollars shortly after he becomes president on Jan. 20. Its affect on the nation's battered construction industry, specifically concrete producers, is unclear.
“We will create millions of jobs by making the single, largest, new investment in our national infrastructure since the creation of the federal highway system in the 1950s,” the president-elect said in December. Obama wants the massive spending program to create 2.5 million jobs. More than 1.9 million jobs were lost in the U.S. in 2008, with most in those losses in the fourth quarter alone.
Its effects could be substantial. “Such an investment in infrastructure could mean the placement of roughly 13 million cubic yards of ready-mixed concrete, totalling nearly $1.2 billion,” NRMCA says.
How long it would take from the time Congress passes Obama's plan until concrete is poured is not clear. The American Association of State Highway and Transportation Officials has said there are 5148 “ready-to-go” highway projects totalling $64.3 billion currently in the U.S.