January 16, 2009
Gov. Chris Gregoire released a $1.2 billion state stimulus package Thursday that includes a list of infrastructure projects, an increase in unemployment benefits and a tax cut for employers.
Gregoire said the package, along with federal stimulus dollars, will provide a short-term boost to Washington state’s economy. If the Legislature moves quickly to pass the package, she said, the projects could get started in the upcoming construction season.
The package includes $817 million in infrastructure projects, with about $427 million in construction projects — a subset of the overall state construction budget that Gregoire proposed in December — and $390 million in roads construction.
The single biggest project on the list, getting more than a third of the total infrastructure dollars, is the $277 million improvement of the Interstate 405/State Route 520 interchange in Bellevue. The project would speed up traffic, lower congestion and reduce collisions by using ramps at different elevations to separate traffic going to SR 520 from drivers going to I-405.
Other roads projects include $15 million for the North Spokane corridor and $98 million in pavement preservation and replacement projects around the state.
The construction package also includes a slew of buildings for the state’s colleges and universities, including a $69.5 million molecular engineering building for the University of Washington and a $38.7 million applied technology building for Washington State University Vancouver.
Gregoire also announced plans to dip into the state’s $4 billion unemployment insurance trust fund for some short-term relief, using $400 million to boost unemployment benefits for laid-off workers and to cut unemployment insurance taxes for employers.
The governor said she would boost benefits by $45 per check and expand training benefits to help workers attending school and training programs.
Gregoire also announced plans to give homeowners more time to renegotiate mortgages and renters more advance notice if their home is subject to foreclosure.