“The president’s economic stimulus package will create immediate benefits for the U.S. economy, while setting the stage for long-term economic growth,” stated Kirk Pickerel, ABC president and CEO. “There are specific elements of this plan that will have a direct impact on construction such as the changes in small business expensing limits that will impact firms’ ability to invest in technology and new equipment to expand the business. This in turn has a positive affect on manufacturers, suppliers, and others throughout the economy.
“Experts are predicting a mild slowdown in the U.S. construction economy during 2003,” said Pickerel. “The president’s economic stimulus plan can help by encouraging individuals to spend and by enabling small businesses to invest in the future, stimulating job growth.
“Economic growth stimulated by the president’s plan will put more power in the hands of consumers, and that will have a ripple affect throughout the economy,” Pickerel said. “Historically, when the overall economy has grown, the construction market has benefited.”
Publication date: 01/13/2003