Culver releases I-JOBS data for July

According to the Culver administration, 7502 people were working on I-JOBS-financed projects in July.  Read the news release from the governor’s office below.

Governor Culver: New I-JOBS Report Shows Continued Growth

In less than 12 months, program makes huge strides

DES MOINES – Governor Chet Culver today hailed July’s I-JOBS report, which shows the program is continuing to expand as more projects come on line.

“It’s just been 12 months since the first I-JOBS applications started coming in,” Culver said. “And look at the progress we have made in less than a year. This underscores the need that Iowa has had for the program since the floods of 2008.”

The report shows that in the month of July:

• There are 2,091 projects statewide, up from just over 1,700 the month before. I-JOBS projects are located in all 99 counties in the state.
• The amount of leveraged funds (or matching funds from federal, state and private sources) soared in July by 57 percent to nearly $961 million.
• Combining the $875 million in I-JOBS with the leveraged funds results in $1.835 billion in I-JOBS projects that are ongoing, committed or completed.
• Only $104 million, or 12 percent, of I-JOBS funds has been spent so far, demonstrating the program will continue to spur the economy and employment as construction activity increases, and work on larger projects matures.
• A snapshot of the number of jobs created or retained in July shows an increase of 7.1 percent to 7,502 jobs. The snapshot is not cumulative; it merely represents workers on site on a particular day of July. This number does not include indirect jobs (such as workers making supplies for I-JOBS) or induced jobs (such as a café receiving business from local I-JOBS workers).

Culver and legislative leaders created I-JOBS in 2009 in response to Iowa’s historic flooding in 2008. I-JOBS’ focus is flood recovery and mitigation, infrastructure improvements, and job creation during the worst economic downturn since the Great Depression.

The bonds for I-JOBS are paid through state gambling revenues – half of which comes from out-of-state gamblers who enjoy Iowa’s casinos.

A pdf is at the bottom of this page with more details.