Gov. Gregoire releases update on state�s Recovery Act efforts

For Immediate Release: August 19, 2009

OLYMPIA � Gov. Chris Gregoire today released an update on the state�s work to rebuild Washington�s economy and lay the foundation for its economic future.

�In less than six months, we have made tremendous progress in obtaining Recovery Act funds to put our people to work,� Gregoire said in the report. �Money has already made it into the wallets of citizens and cash registers of local stores.�

The report lists Gregoire�s five priorities for the state�s work on the Recovery Act. These priorities are:

� Get money into people�s pockets immediately.

� Save or create jobs in the near-term.

� Make innovative investments in areas that lay the foundation for Washington�s 21st century economy.

� Create strategic alliances to align the goals and magnify the benefits of Recovery Act benefits.

� Apply unprecedented accountability and transparency principles.

Current estimates are that Washington will receive approximately $7 billion through the Recovery Act, with $4.5 billion going through state government. The state Office of Financial Management estimates that these funds will support the equivalent of 72,000 full-time jobs between now and mid-2011. Nearly $1 billion of the funding has already been spent.

The report released today is not required by the Recovery Act, but was undertaken by the governor to update the public on the state�s progress in implementing the Recovery Act. The first official report to the federal government is due in October.

The report is available on the Governor�s Recovery Act Web site, www.recovery.wa.gov.