Remember how we were promised that stimulus dollars would be used to get people back to work on “shovel ready” projects within 60 days?
Well, it’s been 14 months and Louisville’s “just getting ready to do sidewalks,” according to city Stimulus Czar Rick Johnstone.
While the city has received $458 million — twice as much as expected — there seems to be some question about whether taxpayers are getting anywhere close to an appropriate return on their “investment.”
The Louisville Examiner’s Thomas McAdam does the math: $458 million spent on 1,152 new jobs works out to “$397,569.44 per job created.”
McAdam adds: Remember how we groused back in November that the City spent $31 million to create 562 jobs, at $55,160 per job? Come to think of it, that was something of a bargain after all.
See Louisville’s stimulus “bargains” here.