(NewsUSA) – Two years after Congress approved investing over $785 billion into a sputtering economy, Americans and businesses alike are re-emerging from the recession.
Infrastructure was the main priority behind Obama’s federal stimulus package. The federal cash was intended to “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.” Over $100 billion was set aside for federal infrastructure projects in 2009 — the creation of factories, hospitals, schools and roads, among other projects — providing new opportunities for many construction contractors.
It has been estimated that around 70 to 80 percent of the money intended for infrastructure projects has yet to be spent. Many small construction businesses are unable to take advantage of the opportunities created by the stimulus because they lack the balance sheet strength to obtain credit and construction surety bonds that are required for government projects.
According to Gary J. Giulietti, director of Iron Eagle Group, an infrastructure and commercial construction company, “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 of funded cash for state and federal projects has formed a unique opportunity for agile public companies like Iron Eagle Group (OTCQB:IEAG) to jumpstart the economy. By partnering with multi-billion-dollar prime contractors, companies like Iron Eagle are poised for growth by aggresively bidding and winning federal and state infrastructure projects. The capacity to qualify for larger surety bonds enables them to win where many competitors don’t qualify due to lack of bonding. The company recently acquired Delta Mechanical Contractors LLC, announcing $55 million in projected revenue this year.
Recent studies have found that companies like Iron Eagle have the potential to flourish in a fickle economy. According to the Department of Transportation, for every $1 billion spent in infrastructure under the stimulus package, 27,800 jobs are created.
To learn more, visit www.ironeaglegroup.com.