Press Release Archive
Thursday, July 23, 2009
Governor Culver: I-JOBS Benefits All Communities
Announces I-JOBS road funding for all Iowa cities and counties
DES MOINES – Continuing to lead the way in efforts to create jobs and strengthen the economy, Governor Chet Culver visited the Des Moines Public Works this morning to announce nearly $100 million in additional road and bridge funding from I-JOBS for transportation projects across the state.
“I-JOBS is about creating jobs, improving our infrastructure and strengthening our economy,” said Governor Culver. “Today, I’m proud to announce that, within a matter of days, these funds will be flowing to every community in Iowa. I-JOBS will not only fix our roads, but create new jobs and new opportunities for our communities, and build a stronger, safer Iowa.”
Every city and county in Iowa will receive a portion of $45 million in additional funding under I-JOBS for local street and road projects. These funds will begin being distributed to cities and counties starting next Tuesday.
In addition, $50 million in I-JOBS funds will improve 55 state highway system bridges in 29 counties across the state. Projects in the metro Des Moines area include two I-35 bridges over the Iowa Interstate Railroad, the Iowa 17 bridge over the Des Moines River, and U.S. 69 bridge over Scott Avenue.
In addition, the Governor announced today that $601 million in proceeds from last week’s sale of I-JOBS bonds were released to the state yesterday. Iowa’s strong fiscal position and AAA bond rating resulted in the bonds being sold at a lower interest rate than expected, saving nearly $12 million each year in payments. I-JOBS bonds are paid for with existing gaming revenue.
Governor Culver added: “In less than two months we have signed I-JOBS into law, appointed its board of directors, approved the first projects for flood-impacted communities like Cedar Rapids, sold our bonds and, in a matter of a few days, will be distributing funds to every single city, town and county in our state.”
Governor Culver was joined at the announcement by Polk County Supervisor Angela Connolly, Waterloo Mayor and Iowa League of Cities President Tim Hurley, Des Moines Mayor Pro Tem Tom Vlassis, Iowa DOT Director Nancy Richardson and Des Moines Public Works Director Bill Stowe.
Over the next two years, it is projected that the City of Des Moines will receive $1,925,192 in street funding and Polk County will receive $393,917 in secondary road funds through I-JOBS.
“I-JOBS funds will play a vital role in helping the City of Des Moines meet its infrastructure needs,” said Bill Stowe, Director of Public Works for Des Moines. “I want to thank Governor Culver and Lt. Governor Judge for making this investment in Iowa’s infrastructure. Their hard work will mean new jobs, and pay dividends for years to come.”
The Culver/Judge I-JOBS program will invest $830 million over the next two years to create and retain jobs, strengthen the economy, recover from last year’s natural disasters, and improve Iowa’s infrastructure. The funds will be used to upgrade Iowa’s roads and bridges, invest in renewable energy projects, improve water quality, and upgrade public facilities such as the Iowa Veterans Home. I-JOBS is funded with existing gaming revenue, meaning no increase in taxes.
A list of I-JOBS road funding amounts for all Iowa cities and counties, as well as bridge projects, is attached.