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July 28th, 2010

I-JOBS Report Reveals Disappointing Rate of Return

Governor Branstad 2010 campaign manager Jeff Boeyink today released the following statement following the dismal report on I-JOBS released earlier today:

“These are short term construction jobs, not the long-term jobs Gov. Culver promised when he proposed I-Jobs.  $1.7 billion for short term construction jobs is not a great return on investment for Iowa taxpayers.  In fact, these short term jobs are costing Iowans over $240,000 a piece.

“Construction employment in Iowa is actually down 2,700 since the I-Jobs bill was passed and nearly 20,000 Iowans have been added to the rolls of the unemployed since this program began.

“In reality, the I-Jobs program has done next to nothing to create the long-term, sustainable jobs that Iowans so desperately need.

“These projects will only last until the money runs out. In fact, a number of these projects will need renovations by the time the state pays back the bond, which is more than two decades from now.

“It is time to again have a governor like Terry Branstad, who understands how to create long-term jobs in this state.”

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