JEFFERSON CITY - The Missouri Department of Transportation has obligated more than 50 percent of its American Recovery and Reinvestment Act funds. MoDOT met the required deadline more than a month ahead of schedule.
State departments of transportation were required by ARRA guidelines to obligate half, or $223 million in MoDOT's case, of their economic stimulus funds by June 30. States not meeting this requirement are subject to having their funding redistributed to other states that did obligate at least 50 percent of discretionary Recovery Act funds by the deadline.
"ARRA guidelines have a ‘use it or lose it' provision, so MoDOT went to work immediately to make sure Missouri can use every cent of stimulus funds available to us," said MoDOT Director Pete Rahn. "We have already put these funds to work creating and supporting jobs, improving roads and bridges and saving lives in the Show Me State. It also puts us in the position to capture additional funds other states may have to forfeit if they do not comply."
To date, the Missouri Highways and Transportation Commission has awarded 91 economic stimulus projects totaling $178.6 million. The work includes repairing or replacing bridges, building new interchanges, resurfacing roadways and improving shoulders and pavement. The 91 ARRA projects will directly and indirectly support 4,970 jobs based on Federal Highway Administration estimates.
All of the ARRA funds distributed to Missouri for roads and bridges must be obligated by March 2, 2010. MoDOT got a jumpstart on meeting that deadline by being the first state in the nation to have a recovery project under way within minutes of President Barack Obama signing the federal act.
More information on the economic stimulus projects can be found at www.modot.org/readytogo