The Missouri Department of Transportation is ahead of schedule in earmarking its federal stimulus money, MoDOT said Monday.
The department received $524.6 million through the American Recovery and Reinvestment Act. State transportation departments are required by the stimulus guidelines to commit all stimulus funds to specific projects by March 2 or lose any uncommitted money.
The department has thus far awarded 187 economic stimulus projects totaling $469 million, according to a MoDOT news release. The remaining money has been set aside for specific projects, but those projects have not yet been awarded.
The Federal Highway Administration estimates that the projects with bids that have already been approved have supported 12,524 jobs, directly and indirectly.
The release also said the department's quick action - obligating the funds quickly in a competitive bidding environment - resulted in bids that came in $24 million below estimate, allowing the department to add another 53 projects, according to the release.
"MoDOT has worked rapidly to show that transportation projects do play an integral role in supporting jobs and rebuilding our nation’s economy,” MoDOT Director Pete Rahn said in the release. “While these funds don’t come close to covering all of our transportation needs, they have helped fill a short-term gap as other federal and state resources continue to decline.”
More information on Missouri’s recovery act transportation projects is available at www.modot.org/readytogo.
