Sat, Dec 19, 2009
Asks For $6.4 Billion From Stimulus Funds
The Aerospace Industry Association
(AIA) is calling on the Obama administration to release some of the
unspent TARP (Troubled Asset Relief Fund) money to create jobs in
the Aerospace industry. Association CEO Marion Blakey said if the
money originally set aside for bailing out financial institutions
was going to be used for infrastructure projects, then aerospace
should go to the front of the line.
Blakely's appeal came at the Reuters Aerospace and Defense
Summit held this week in Washington, DC. Reuters reports that
Blakey said tapping $6.4 billion in TARP funds for aerospace could
create as many as 150,000 jobs in the industry, but that it would
not be a "bailout." "This industry doesn't have its hand out and
we're not asking for a bailout," Blakey said, but "If they are
going to start tapping TARP funds for jobs, we believe very
strongly that aviation infrastructure should be right at the front
of the line."
Blakey also said spending TARP funds on aerospace projects could
help the overall economy by improving the aging air traffic control
system.
Marion Blakey
Gene Sperling, a senior U.S. Treasure councilor, said in
response to a question about Blakely's suggestion that the
distribution of TARP funds was ultimately up to the congress.
Blakey also cited a stimulus package pushed through the French
legislature by French President Nicolas Sarkozy as an example for
President Obama to follow.
AIA and other industry organization reported back in August that
in the current economic climate, the aerospace industry could shed
as much as 4.5 percent of its workforce. Blakey also told the
conference that U.S. Aerospace exports are off 17 percent over a
year ago. There could be a slight increase in 2010, she said, but
then expects another shallow dip could follow in 2011.
More News
Aero Linx: Model Aeronautical Association of Australia MAAA clubs are about fun flying, camaraderie and community. For over 75 years, the MAAA has been Australia’s largest fl>[...]
Touchdown Zone Lighting Two rows of transverse light bars located symmetrically about the runway centerline normally at 100 foot intervals. The basic system extends 3,000 feet alon>[...]
“Discovery and innovation are central to our mission at Virgin Galactic. We’re excited to build on our successful record of facilitating scientific experiments in subor>[...]
How To Get A Story On Aero-TV News/Feature Programming How do I submit a story idea or lead to Aero-TV? If you would like to submit a story idea or lead, please contact Jim Campbel>[...]
Student Pilot Reported That During Rotation, “All Of A Sudden The Back Of The Plane Kicked To The Right..." Analysis: The student pilot reported that during rotation, “>[...]