Stimulus funds may find way to Valley MONEY: Knowing where to look is key, business leader says.
Money from the $787 billion federal stimulus package may find its way into the San Fernando Valley labor market - if employers are willing to do a little legwork, a local business leader said Thursday.
By doing Internet research and contacting elected and economic development officials, business owners may be able to tap into the funds designed to spur job growth and revitalize the U.S. economy, said Bruce Ackerman, president and CEO of the Valley Economic Alliance.
"Whatever type of a business it is, if they can talk to people aligned with that industry, it's going to help them a great deal," Ackerman said.
It's not yet known exactly how much money will reach the region or how it will be used, but it is a substantial amount, he said.
However, the Los Angeles Work Force Investment Board is receiving $43.8 million for job training. About half will be allocated for summer jobs for youth.
Mayor Antonio Villaraigosa plans to meet Monday with business leaders to discuss summer job opportunities.
"We can actually use that to subsidize kids' jobs," said Dave Eder, spokesman for the city WIB. "We're paying for those kids' salaries, and everyone knows when a kid and a dollar are put together they don't stay together very long. It goes right back into the economy."
Roughly $190 million will start flowing when construction begins this spring on a car-pool lane on the northbound 405 from Santa Monica Freeway to the Ventura Freeway. That project along will create 18,000 jobs, said Marc Littman, a spokesman for the Metropolitan Transportation Authority.
Ackerman suggests businesses check out the following sites to increase their changes of tapping into stimulus money.
Information about approved infrastructure projects in the area is at http://www.recovery.com.
Learn how to find those bid opportunities and how to do business with the government at http://alliancesfv.toolsforbusiness.info
Call the Workforce Investment Board Business Services at 213-744-7211 to find out about training opportunities.
Businesses can also find more information at the California Employment Training Panel site at http://www.etp.ca.gov or by calling 916-327-5640.