Rio Grande Valley leaders have a 100-page, $1 billion list of projects they would like to see included in a federal economic stimulus plan that would invest billions in the nation's infrastructure.

While part of President-elect Barack Obama's economic stimulus plan - called the "New New Deal" by some - is creating or saving 2.5 million jobs by putting Americans to work rebuilding roads, bridges, airports and schools, Valley officials said it's unlikely enough stimulus money will be invested here to complete more than one major project.

But many said they were thinking about what that one could be, just in case.

"Should someone throw a bag of money on our lap, we have projects ready," said Andrew Canon, director of the Hidalgo County Metropolitan Planning Organization. "I can't think of anyone anywhere who doesn't have a list of projects ready to go.

"They're just waiting to see what happens with this (economic stimulus) plan."

BIG DOLLARS

Many historians have drawn parallels between Obama's economic plan and the New Deal, a series of economic programs initiated at the height of the Great Depression by President Franklin D. Roosevelt.

Programs like the Social Security Administration draw the most attention, but the Works Progress Administration was the largest New Deal program, employing millions of people building roads, bridges, schools and other public buildings.

With Obama planning a similar program, Valley cities and counties submitted their wish list of public works projects to the U.S. Economic Development Administration late last month for consideration.

The $1 billion list includes all the things - roads and bridges, water and sewage treatment plants, drainage and levee projects - that the growing Valley needs, said Ken Jones, executive director of the Lower Rio Grande Valley Development Council.

The council's request was to get an initial assessment of what infrastructure needs could be, but only about two-thirds of the local governments were able to respond before the Economic Development Administration's deadline.

The $1 billion total doesn't even include some of the biggest projects Valley planners said the area needs to keep the region growing, like the full Hidalgo County loop project ($1.6 billion), the Metropolitan Planning Organization's transportation plan through the year 2030 ($2 billion) and the regional water plan through 2060 ($1.1 billion).

"When you add all those ($5.7 billion in projects) together, it's a hefty dollar tag," Jones said. "But it's some really needed improvements."

NEEDED: ROADS

Give the Metropolitan Planning Organization $170 million, and Canon could start building everything in his four-year Transportation Improvement Plan beginning tomorrow, he said.

The plan - a collection of road widenings, bridge improvements and new road and overpass construction - is a scaled-down version of the $2 billion long-range plan.

The projects in the fiscally constrained, four-year plan are ones the planning agency expects to eventually fund even if the financial outlook for new road projects remains murky, Canon said. But it's more likely those projects would receive funding through new measures at the state level than through an economic stimulus package.

Even if a national stimulus plan in the vicinity of $500 billion receives approval, a percentage of the funding will be allocated for needs other than transportation, Canon said.

And if the money is distributed in ways similar to federal funding for transportation, only a percentage of the sum would go to Texas and fewer dollars would trickle down to a midsize metro area like Hidalgo County.

"We're more pessimistic than optimistic," Canon said. "We know the need is there - everybody has great needs - but in these economic times, how much money can be distributed? And when it's distributed out, how much can they send to our area?"

THE RIGHT APPROACH?

How much money is ultimately dedicated to public works and how much - if any - finds its way to the Valley won't be determined for at least a month.

Democratic lawmakers have indicated they want a stimulus package ready for Obama to sign when he takes office Jan. 20 to hasten economic recovery.

Obama has stressed the importance of identifying projects that could put people to work quickly to direct a quick infusion of federal funds into salaries and construction materials.

The need to act quickly should mean whatever public works projects are chosen are ones that can start immediately, eliminating ones tied up in design or engineering phases. But it's still not clear whether the big spending will do much to restore the economy.

Alberto Davila, the chairman of the Department of Economics and Finance at the University of Texas-Pan American, said economists have suggested low interest rates have limited the effectiveness of monetary policy as a tool to pull the economy out of recession.

Only government spending like the proposed public works initiative can stimulate the economy, he said. But there also are concerns about the time lag between how long it would take for a stimulus package focused on public works to bring economic benefits.

Such an initiative also would further deepen an already massive budget deficit.

But the impact of putting unemployed people to work still makes it a viable solution to jumpstart the economy, said Yvonne "Bonnie" Gonzalez, the chief executive officer of WorkForce Solutions, the workforce development board serving Hidalgo, Starr and Willacy counties.

New jobs can help stimulate the economy as the employed workers spend more money, leading to still more jobs and so on, Gonzalez said. An investment in public works in the Valley could have effects long after the work is done.

"We have huge infrastructure needs in our community, and it would be a way to get our people to work," Gonzalez said. "I can tell you (Obama's plan) would be a huge shot in the arm for our local economy."

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Jared Janes covers Hidalgo County government and general assignments for The Monitor. He can be reached at (956) 683-4424.