One fallacy of public works projets is the mistaken belief, that once built, it will magically spark business development - the real world is often more complex.
A project being proposed locally here is a multi-million dollar sewer system in a high-crime neighborhood. Granted the lack of a sewer system restricts growth potential, but the presence of one does not result in development. The area suffers from decades of overlooked crime, and other social problems. No business will invest in the area, sewer system or not, until those issues are fixed - and the local politicians are loath to address the real problems.
All we will get with Obama’s ‘great works’ project is overpriced (Davis Bacon wage rate) projects filled with pork that benefit democrat politicians and their campaign donors. Paying $10M for a $5M make-work project is fiscally irresponsible, if not outright corrupt.