Two years after Congress approved spending $785 billion to a struggling economy, Americans as well as businesses are recovering from the recession.
InfrastructureObama’s federal stimulus plan was built on this principle. The federal cash was intended for “create millions of jobs by making the single largest new investment in our national infrastructure since the creation of the federal highway system in the 1950s.”In 2009, more than $100 billion was allocated for federal infrastructure projects. This included the creation of schools, factories, and roads. It also created new opportunities for construction contractors.
Around 70 to 80 percent of money meant for infrastructure projects is still uninvested. Because they lack the financial strength to get credit or construction surety bonds required for government projects, many small construction companies are unable take advantage of the stimulus’s opportunities.
Gary J. Giulietti is the director of Iron Eagle Group which is an infrastructure and commercial construction firm. “Our Management team has a history of successfully completing large-scale projects, such as power plants, waste water treatment plants, schools, transportation, and historical landmarks such as the renovation of Ellis Island.”
The influx in funded cash for federal and state projects has created a unique opportunity that agile public companies like Iron Eagle Group, OTCQB:IEAG, to boost the economy. Iron Eagle is poised to grow by partnering with multibillion-dollar prime contractors. They aggressively bid and win federal and state infrastructure projects. Their ability to qualify for larger surety bond amounts allows them to win projects that many other companies aren’t able to because of lack of bonding. Delta Mechanical Contractors LLC was acquired recently by the company. This acquisition will result in $55 million in revenue for the company.
Recent research has shown that Iron Eagle is able to thrive in a volatile economy. According to the Department of Transportation 27800 jobs are created for every $1B spent on infrastructure in the stimulus package.
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