The following are 7 key steps to taking advantage of the Stimulus Act (American Recovery and Reinvestment Act).  We include this is an excerpt from the Green Stimulus Guide which can be downloaded at www.GreenStimulusGuide.com

1. Take action. Be optimistic enough to put your time and money into the things that will help to turn the economy around. Become part of the green economy that is being so greatly rewarded in so many aspects of the Recovery Act.

2. Bookmark and use the various online tools that will help you to follow Recovery Act developments in your fields of interest. Some of the state Recovery sites even offer an alert service so that as contracts, grants and newsworthy events happen you can be among the first to know.
Key federal sites to bookmark and visit often are:

www.recovery.gov
www.fedbizopps.gov
www.grants.gov

GSA Schedules

Watch the websites of the federal departments and agencies that control the contracts and grants that you are particularly interested in.

Also bookmark and use the Recovery site for your state and the surrounding states that may also be in the running for some of your business. The combined site run by the Council of State Governments for all states is:

www.staterecovery.org

If you are out of work and looking for another job, check in often at the local Workforce Development office. Many of the state and federal jobs that come up as a result of ARRA will be filled through this government funded job service. Your union hall is another place where ARRA work will become available.

3. Create a timeline for the projects you plan to apply for. Remember that deadlines may be very limited, and may already be past for certain projects. If one opportunity is closed out, look for another similar one from a different department or agency, or apply for opportunities in a neighboring state. There may be reciprocal licensing possibilities or a way of applying for a multi-state license in your

professional field that will enable you to spread your job potential to other communities and states.

The federal government wants half the ARRA money encumbered by mid-June, but that means that about half of the $787 billion will remain to be spent over the next year to two years giving you time to get in your application for later rounds of funding.

4. Check out all the business and personal tax credits and deductions that come as part of the ARRA. If you can afford to, it just might be your patriotic duty to buy that new American made hybrid vehicle or move from renting to owning a home. Now is also the time to weatherize your house and take the tax credits that will come right off the top of what you owe in taxes.

It is a great time to invest in property. Because of the foreclosure crisis prices in many parts of the country have not been this low since the 1990s. Reduced prices and low interest loans should make it possible to get a wide range of rental property to deliver positive cash flow. There are grants and low interest loans available to rehab these properties and get them back on the tax roles and off the books of cash-strapped banks. If you own low income rental housing you may be eligible to weatherize the property for tax credits.

5. Research your options and train for the new “green” economy. Just as the 1980s and 1990s were the “information age” and the 1990s and early 2000s ushered in the “biotechnology age,” now we are moving into a new era of the “energy age.” In the next several years people who want to prepare themselves for well paying and growing job opportunities will enter fields such as:

• Carbon Reduction Manager
• Environmental engineer
• Certified Sustainable Development Professional
• Nuclear scientist
• Solar panel installer
• Door and window installer
• Roofer
• LEED certified Architect
• Biochemical engineer
• Electrical engineer
• Energy Manager

The list of specialties that will become of growing importance in the mix of jobs during the 21st century shows that the future is bright and gives us cause for optimism that our children and grandchildren will be able to continue to see improvements in their standard of living.

Obtain the professional certifications that will make you and your company stand out from the crowd.

6. Network. Use your local, state and national professional groups to find others who can enhance your business and your career. If you do not have the background to go after an ARRA contract or grant on your own, find out who has been awarded a contract and offer to sub-contract or joint venture. You’ll learn from the experience, make valuable contacts and add to your company portfolio and your professional resume.

7. Take advantage of all the credits and tax deductions that you can legitimately claim for your business and your personal

This entry was posted on Thursday, May 21st, 2009 at 5:13 pm and is filed under Green Stimulus - ARRA - opportunities and resources. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.