More jobs: House Capital Budget passes

“More bang for the buck” is the theme of the House Capital Budget, which passed today on a vote of 59-36.

The budget, which funds construction of public buildings, is about 35% smaller than the one passed during the 2007-2009 biennium, but it maximizes the return on the state’s investment.

For example, $50 million invested for affordable housing projects would become $250 million in projects, a 4-to-1 return on investment.

$150 million invested for energy efficiency work in public schools would become $600 million in projects, a 3-to-1 return on investment.

How is such a great return on investment possible, especially in today’s economy? Because of local and federal matches, that’s how.

If that wasn’t enough good news, the budget would also create thousands of jobs across the state – 7500 good-paying construction jobs, to be exact. And with almost 30% of the construction industry currently out of work, these jobs couldn’t come at a better time.

The House and Senate still need to work out a compromise budget, but House Capital Budget Chair Rep. Hans Dunshee is determined that the final budget will be one that creates new jobs.