Every day, we see how the U.S. is falling behind in the quality, reliability and even the very safety of its transportation infrastructure. The impact goes beyond traffic jams or collapsed bridges — it adds to the cost of doing business and it suppresses job growth.
John Rennie Short discusses the impact the crumbling state of current US transport infrastructure has on economic growth, efficiency and competitiveness. Referencing the findings of the Presidents Council of Economic advisors, the lack of investment in infrastructure causes businesses in the U.S. pay an extra $27 billion a year in freight transportation costs and carry extra inventory and add extra distribution centers because they can’t rely on goods getting where they need to be on time.
The current transport infrastructure investment gap is running at around $850 billion..
New investment is needed in sensible, bankable transport infrastructure projects. This financing gap will not be closed by commercial banks project finance loans and public funds alone. More private sector investment is needed now.
If we invest smartly, deploying capital from private investors alongside public funds, we can lay the basis for a more competitive, more productive and more sustainable U.S. economy.
infraccess - smart data for infrastructure