In May 2008, Sarasota County residents voted to approve a Local Economic Stimulus Plan to fast-track planned surtax projects in order to create jobs and stimulate the local economy. Also known as Penny-Wise, the Local Economic Stimulus Plan is currently underway and will infuse an estimate $290 million into the economy over a three year period and create as many as 2,000 jobs.
Local Economic Outlook
On Jan. 14, 2009 the Sarasota County Commission heard a report about the local economic climate from Donald Grimes, a senior research specialist with the Institute for Research on Labor, Employment and the Economy at the University of Michigan.
Sarasota County Project List
Federal stimulus dollars are being distributed across a wide variety of areas including transportation, transit, housing, criminal justice, health and human services, energy and environmental protection.
Understanding the American Recovery and Reinvestment Act of 2009
The Florida Office of Economic Recovery has published a comprehensive funding spreadsheet that outlines of the provisions of the Recovery Act including descriptions of the many federal programs that funds are being distributed through and additional resources to find more detailed information.
Sarasota County is working diligently to ensure ARRA funds are working effectively for the community to create jobs and stimulate the economy. The community will also see ARRA funding come to the area through organizations such as the Suncoast Workforce Development Board and the Sarasota Housing Authority. In addition, the Penny Wise Program that was approved in May 2008 is currently being implemented, infusing approximately $290 million into the economy and creating as many as 2,000 jobs over a 72 month period.