Shovel-Ready

AAA

DEFINITION of 'Shovel-Ready'

A term widely used by President Barack Obama to describe a construction project that could be started as soon as it received funding. A truly "shovel-ready" project should already be planned and permitted. This term is typically used to describe infrastructure projects such as improvements to roads, bridges, highways and public transportation.

INVESTOPEDIA EXPLAINS 'Shovel-Ready'

Obama's 2009 stimulus package, passed in an attempt to spark economic recovery from the Great Recession, was supposed to fund numerous shovel-ready projects and create jobs. It was also supposed to jump-start the struggling construction industry. Time-consuming regulatory requirements delayed many projects, however, while others never happened, which subjected the president to much criticism.

RELATED TERMS
  1. The Great Recession

    The steep decline in economic activity during the late 2000s, ...
  2. Obamanomics

    A buzzword used to describe the economic philosophies of United ...
  3. Dodd-Frank Wall Street Reform and ...

    A compendium of federal regulations, primarily affecting financial ...
  4. Cash For Refrigerators

    A federal energy efficiency program introduced in the fall of ...
  5. Cash For Clunkers

    A program that allows car owners to trade in their old, less ...
  6. Troubled Asset Relief Program - ...

    A government program created for the establishment and management ...
Related Articles
  1. Liquidity And Toxicity: Will TARP Fix ...
    Insurance

    Liquidity And Toxicity: Will TARP Fix ...

  2. Why Can't Economists Agree?
    Economics

    Why Can't Economists Agree?

  3. Do Tax Cuts Stimulate The Economy?
    Taxes

    Do Tax Cuts Stimulate The Economy?

  4. Is The U.S. Government Too Big To Fail?
    Retirement

    Is The U.S. Government Too Big To Fail?

comments powered by Disqus
Hot Definitions
  1. Last In, First Out - LIFO

    An asset-management and valuation method that assumes that assets produced or acquired last are the ones that are used, sold ...
  2. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  3. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  4. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  5. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  6. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
Trading Center