According to the Guide to the American Recovery and Reinvestment Act of 2009, a new report from ZweigWhite, working fast and staying close to home are two key points that will help firms win projects funded by the American Recovery and Reinvestment Act of 2009 (ARRA), more commonly known as the much-anticipated federal economic stimulus bill.
Capitalizing on existing relationships with government agencies is perhaps the best way to win projects in this area, the report states. Restrictions put forth in the bill require that much of the money be committed by Sept. 30, 2009. As a result, firms that have established relationships with granting agencies and those with the ability to build relationships quickly will stand the best chance of securing projects funded by the bill. And because much of the money from the stimulus bill will be passing through state and local channels, firms are most likely to win stimulus-funded work close to where they are located.
"The bill represents huge opportunities for firms in the AEC space, given that so much capital is being dedicated to improving transportation infrastructure. Similarly, a lot of funding is being poured into the energy and environmental sectors, and firms serving clients in these sectors stand a good chance of seeing some work come from the bill," said Elaine K. Howley, associate in the research division at ZweigWhite. "Many firms can find work resulting from the money the bill will inject into the economy, but they need to act quickly and understand where the money will be going and what agencies will be administering funds."
zweiggroup.com/store offers an in-depth look at the economic stimulus package and provides best-practices information for how firms can improve their chances of winning work funded under the bill. This electronic report is available from the publisher for $145.