The American Recovery and Reinvestment Act (ARRA) made $275 billion available for federal contracts, grants and loans. As of October 30, 2009, recipients reported over 130,000 awards, approximately 10% of which were in the form of contracts. Where did your tax dollars go? Here are the top 10 ARRA contract recipients.

  1. Savannah River Nuclear Solutions, LLC - Total Amount Awarded: $1,407,839,884
    Topping the list with over $1.4 billion in awarded funds is Savannah River Nuclear Solutions, LLC. The firm, known in short as SRNS, is the management and operating contractor at the Department of Energy's Savannah River Site in Aiken, South Carolina. SRNS is responsible for managing the nation's nuclear weapons stockpile and its Recovery Act contract is for facilities support services.

  2. CH2M Hill Plateau Remediation Company - Total Amount Awarded: $1,359,715,229
    CHPRC is one of three Washington-state based companies to make the top ten list. The company's focus is the "safe, environmental cleanup of the Central Plateau of the Hanford Site." CHPRC is the leader of this ten-year project, and the Hanford Site effort is the largest environmental cleanup project in America.

  3. CH2M WG Idaho - Total Amount Awarded: $437,675,000
    Coming in at a distant third place is CH2M WG Idaho, LLC. The Recovery Act contract calls for remediation services and will accelerate the pace of the existing Idaho Cleanup Project (ICP). The goal of the project is to clean up the Idaho National Laboratory site. The site is contaminated with waste created by several activities including weapons testing and laboratory research.

  4. UT-Battelle LLC - Total Amount Awarded: $338,697,231
    UT-Battelle LLC is responsible for managing the Oak Ridge National Laboratory for the Department of Energy. Oak Ridge is the DOE's largest science and energy laboratory, and the project's activities are described as facilities support services. UT-Battelle is a partnership between the University of Tennessee and Battelle Memorial Institute of Columbus, Ohio. (U.S. bailouts date all the way back to 1792. Learn how the biggest ones affected the economy in Top 6 U.S. Government Financial Bailouts.)

  5. SAIC-Frederick, Inc. - Total Amount Awarded: $302,521,207
    SAIC-Frederick, Inc. is the first company on our list to receive funds from a source other than the Department of Energy. SAIC-Frederick operates at the National Cancer Institute at Frederick. The Maryland-based company works to accelerate the delivery of "new technologies and treatments" to AIDS and cancer patients. Its contract was awarded by the Department of Health and Human Services.

  6. Washington River Protection Solutions - Total Amount Awarded: $299,728,838
    Washington River Protection Solutions was awarded close to $300 million in funding from the Department of Energy to speed its existing Tank Operations Contract (TOC). By volume, the tanks hold 60% of the nation's high-level radioactive waste. The acceleration of the project is expected to result in reduced risk to the environment, as well as stronger infrastructure and systems for waste being delivered for treatment.

  7. Babcock & Wilcox Technical Services Y-12 - Total Amount Awarded: $270,299,243
    Babcock & Wilcox Technical Services Y-12, LLC is responsible for the management and operation of the Y-12 National Security Complex in Oak Ridge, Tennessee. The project, also referred to as the B & W Y-12 ARRA program, is aimed at reducing risk from "Cold War legacies" and using demolition and disposal to further Y-12's "physical transformation."

  8. Brookhaven Science Associates, LLC - Total Amount Awarded: $257,613,800
    Brookhaven Science Associates, LLC manages and operates the Brookhaven National Laboratory. According the company website, BSA "conducts research in the physical, biomedical, and environmental sciences, as well as in energy technologies and national security." Funds from the Recovery Act will be used to enhance research capabilities and optimize project execution.

  9. Washington Closure Hanford, LLC - $253,614,000
    Washington Closure Hanford, LLC is the fourth company on our list associated with the Department of Energy's Hanford Site located in southeastern Washington State. The awarded
    funds will be used for several activities including increasing waste capacity, equipment and facility upgrades, waste characterization, waste site remediation and sampling. (How did America's strong economy tumble so quickly? Find out in The Fall Of The Market In The Fall Of 2008.)

  10. Los Alamos National Security, LLC - Total Funds awarded: $230,835,000
    Los Alamos National Security, LLC is a group of four organizations: University of California, Bechtel National, Inc., URS, and our seventh largest recovery act beneficiary, The Babcock & Wilcox Company. According to its website, LANS specializes in national security research. The contract was awarded by the Department of Energy and calls for research and development in the physical, engineering and life sciences (with the exception of biotechnology).

The Bottom Line
Firms associated with the Department of Energy are clearly the largest beneficiaries of contracts awarded through the Recovery Act. Even though they have been awarded most of the largest contracts, many of the firms have reported no expenditures. As of October 30, 2009, less than 11% of the awarded money had been received.

Related Articles
  1. Investing Basics

    What are the fiduciary responsibilities of board members?

    Find out what fiduciary duties a board of directors owes to the company and its shareholders, including the duties of care, good faith and loyalty.
  2. Economics

    What's a Horizontal Merger?

    A horizontal merger occurs when companies within the same industry merge.
  3. Investing

    A Breakdown Of Stock Buybacks

    Find out what these company programs achieve and what it means for stockholders.
  4. Bonds & Fixed Income

    Simple Math for Fixed-Coupon Corporate Bonds

    A guide to help to understand the simple math behind fixed-coupon corporate bonds.
  5. Economics

    3 Notorious American White Collar Criminals

    Learn about the crimes and punishments of some of the most infamous convicted white-collar crooks.
  6. Economics

    What Is Servant Leadership?

    Servant leadership emphasizes innovation, employee empowerment, and the development of leaders who serve an organization’s stakeholders first.
  7. Economics

    Understanding Corporate Culture

    Corporate culture encompasses the beliefs and behaviors that determine how a company and its employees interact and how they work with customers.
  8. Fundamental Analysis

    The Basics Of Corporate Structure

    CEOs, CFOs, presidents and vice presidents: learn how to tell the difference.
  9. Stock Analysis

    These S&P 500 Companies Hold the Most Cash

    Large cash positions allow for many different options and here's why they are beneficial to shareholders.
  10. Investing Basics

    Is a Rate Hike Already Priced Into the Market?

    Is the recent selloff in equities related to the Fed's probable interest rate hike, or are problems bigger than the Fed wants us to believe?
  1. What can working capital be used for?

    Working capital is used to cover all of a company's short-term expenses, including inventory, payments on short-term debt ... Read Full Answer >>
  2. Does working capital include short-term debt?

    Short-term debt is considered part of a company's current liabilities and is included in the calculation of working capital. ... Read Full Answer >>
  3. How do modern companies assess business risk?

    Before a business can assess or mitigate business risk, it must first identify probable or likely risks to its bottom line. ... Read Full Answer >>
  4. Why has emphasis on corporate governance grown in the 21st century?

    Corporate governance refers to operational practices, management protocols, and other governing rules or principles by which ... Read Full Answer >>
  5. How do open market operations (OMOs) affect bond prices?

    Open market operations (OMOs) directly influence the money supply, which in turn impacts interest rates. Interest rates are ... Read Full Answer >>
  6. What are some common examples of demand shock?

    Common examples of demand shocks are interest rate cuts, tax cuts, government stimulus programs, natural disasters, terrorist ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  2. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  3. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  4. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
  5. Black Monday

    October 19, 1987, when the Dow Jones Industrial Average (DJIA) lost almost 22% in a single day. That event marked the beginning ...
  6. Monetary Policy

    Monetary policy is the actions of a central bank, currency board or other regulatory committee that determine the size and ...
Trading Center