SEATTLE - In the race to attract and spend stimulus dollars, Wyoming is ahead, says a new study published by Onvia,creator of Recovery.org, a private-sector initiative to give businesses transparency into recovery project spending.
According to the study, which ranked states by the dollars of stimulus money per capita and by how quickly those dollars were awarded to contractors, Wyoming netted $1,236.80 per capita. The state is spending it quickly, with 27 percent already awarded to contractors.
The highest-scoring state, Alaska, netted $2,482.50 per capita, spending it at a velocity of 25.2. North Dakota and New Hampshire were the only other states in the top ranking.
North Carolina brought in the most stimulus money per capita, with a whopping $7,126 per person, but is spending it at a crawl of just 11.1 percent. Michigan, which has the worst unemployment in the nation at 14.3 percent, got $821 per person and is spending it slowly, with just 14 percent awarded to contractors so far.
As of June 17, Onvia was tracking about 72,000 Recovery Act projects valued at $200 billion, of which 23,000 projects totaling $66 billion have been awarded to contractors.
"We believe the second half of 2010 will see a substantial acceleration in the velocity of contract awards," said Mike Pickett, Onivia CEO.
To view Economic Recovery-funded projects tracked by Onvia, visit www.recovery.org
For more Daily news click here and look under 'Breaking News'