$1.1 Billion Set-Aside for Environment, Energy and Technology in Illinois Budget

Governor Rod R. Blagojevich today delivered his fiscal year 2009 Budget Address, which focused on boosting Illinois' economy through a comprehensive stimulus package that offers relief for families and businesses, invests in the state's deteriorating infrastructure, and puts people to work.

"We've made a lot of progress for people. But make no mistake about it -- these are tough times," said Blagojevich. "And when times are tough, I believe the best way to fight for families and fight for people is to focus on strengthening the economy."

Illinois Works

This $25 billion capital program provides access to capital in communities throughout the state to stimulate job growth and the Illinois economy. The fiscal year 09 budget includes funding for a capital construction plan to build critically needed schools, build and improve roads, repair bridges, improve public transit and airports, protect natural resources, and provide access to capital for economic development, affordable housing and community health centers throughout the state.

This plan will support more than 700,000 jobs and strengthen the economy.

"I like the idea of a capital bill of the size and scope I am proposing because first and foremost, it means that we will put more than 700,000 people to work," Blagojevich said. "There are bridges across Illinois that desperately need to be fixed. There are bridges that need to be built. There are roads in each of your districts that need to be repaired. And there are too many of our school children trying to learn their lessons in classrooms that are overcrowded or going to school in buildings that are old and crumbling, and not good places to learn. Let's build them good places to learn"

The Governor's capital plan includes:

• $14.4 billion for road and bridge programs
• $3.8 billion for school construction
• $2.7 billion for public transit
• $1.1 billion for higher education
• $1.1 billion for environment, energy and technology
• $1.0 billion for economic development, including housing
• $600 million for improved and expanded state facilities
• $500 million for airports and rail

Illinois Works would be funded primarily through partial concession of the Lottery. While most capital programs are funded by issuance of debt, Illinois Works funds nearly 65 percent of its projects from pay-as-you-go sources. Only 35 percent of the program is bond funded. In fiscal year 07 and fiscal year 08, Illinois reduced bonded debt by $1 billion, the first time since 1997 that outstanding debt has been reduced for two consecutive years.