Rental trade group: ‘Pass an infrastructure stimulus package now’
The American Rental Association (ARA), a Moline, Ill.-based trade association, is urging Congress to produce an economic stimulus package that boosts infrastructure spending. That spending, along with tax cuts, will provide an important shot in the arm to the equipment rental industry in the United States, according to ARA.
“Investment in our nation’s infrastructure is an important element of a stimulus package designed to aid the weakening equipment rental industry. Spending on infrastructure will provide a positive return for rental companies who provide capital equipment required for these projects,” ARA asserted in a press release. “Projects created under the economic stimulus will also create more employment opportunities in rental stores, equipment suppliers and at infrastructure job sites.”
ARA is urging quick action from the House and Senate to approve both the tax and spending portions of the infrastructure package.
“We are at a critical time with the current economic situation. The price of inaction is too great to ignore,” said Christine Wehrman, executive vice president and CEO of ARA. “As the industry leader, we must be a strong advocate for measures that will bring about improvement in the economy. Our preliminary analysis suggests a steep decline in rental revenue in 2009 and into 2010, so a robust and well-crafted stimulus package is critical to our sizable industry.”
ARA is an international trade association for the owners of equipment rental businesses and the manufacturers and suppliers of rental equipment. The current membership includes more than 7,000 rental businesses and 1,100 manufacturers and suppliers.
In a tough economy, equipment rental makes sense
Steve Heyman, director, government programs, at Fort Mill, S.C.-based Sunbelt Rentals, asserted that equipment rental can help government agencies complete construction and maintenance projects during difficult economic times.
“Sunbelt Rentals provides all branches of government with a broad array of equipment rental options that allow all necessary work to be completed with no capital outlay,” Heyman told GovPro.com.
According to Heyman, the benefits of equipment rental include no maintenance or storage costs, a choice of newer models of equipment, and expert advice from trained professionals.