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 Will
the Economic-Recovery Package Save the Construction Industry?
While President Obama's economic-recovery package offers tax relief
for individuals and businesses, it also includes incentives to try
and rebound the nation's construction industry. Some highlights
of the bill include:
- Thirty-five percent of the bill would be for tax cuts; 65 percent
would be for spending;
- $6 billion to $9 billion for modernizing and repairing schools;
and
- A provision requiring materials purchased with funds from the
bill to be U.S. made.
"America's architects stand ready to work with President Obama
and Congress to help rebuild and renew America," says Marvin
Malecha, FAIA, president of the American Institute of Architects.
"Achieving the priorities that the President outlined in his
address last night will require the support and participation of
architects--whether to design the next generation of green buildings
that help break our addiction to foreign oil, build the hospitals
and health facilities that revolutionize how medicine is delivered
or modernize schools to help our children compete in the global
economy."
Malecha continues, "Also, we hope that the President and Congress
look at the historic investments made in the economic recovery bill
for green buildings and infrastructure as just a down payment, and
not the last word. When we face a $2.2 trillion shortfall in infrastructure
investments, and when as many as 1 in 5 American children call a
portable trailer their classroom, we cannot afford to let the forward
momentum slow."
But talk to a few people from companies that supply architectural
glass products and it's easy to see that not everyone is as encouraged
by the bill. Russ Ebeid, president of Guardian Industries' Glass
Group, says he doesn't see anything substantial in the bill that
will help the construction industry in the short term-this year
or next.
"There are incentives [tax credits] for homebuyers, but I think
that's mainly to clean up the existing stock of houses and until
that's cleaned up I think new construction will still be down,"
says Ebeid. "On the commercial building side, people are not
shopping so there is no need to build more shopping centers and
strip malls and with businesses being down why build new office
buildings? So I just don't see any immediate help for the construction
industry. The bill may just help us reach our bottom faster."
He does point out, however, that there are some aspects of the bill
that could be positives for the industry in the shorter term. One
element of the bill, for instance, encourages renewable office buildings,
which could mean the use of more energy-efficient materials, including
glass. "I also understand the bill includes alternative energy
and that, too could be positive for the glass industry," Ebeid
adds.
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