Infrastructure group endorses Grow America
- Published: Tuesday, 03 June 2014 15:18
- Written by Concrete News
The Board of Directors of the Association for the Improvement of American Infrastructure (AIAI) supports all initiatives that promote the rebuilding and growth of infrastructure in the United States, and announced its support of the Grow America Act shortly after Transportation Secretary Anthony Foxx outlined the proposal.
The act intends to improve and expand American infrastructure, AIAI officials note, and support millions of jobs by repairing and modernizing America’s roads, bridges, railways and transit systems. It is also structured to ensure that American businesses can compete and grow effectively in the global economy while increasing opportunities for communities across the country.
Grow America also supports effective, existing finance tools that are imperative to the rebuilding of America’s infrastructure. More specifically, the Act looks to expand financing options under TIFIA, strengthen the Railroad Rehabilitation and Improvement Financing Program and increase the availability of Private Activity Bonds.
In addition, AIAI contends, the Grow America Act will provide critical investment to fix America’s decaying roads and bridges through its promotion of Public Private Partnerships (P3s). Currently, American infrastructure is not keeping pace with a growing economy and population, nor the traveling needs of the American public. As an innovative financing and project delivery model, P3s provide the vital link between what is possible and what is needed to rebuild and expand transportation infrastructure. The Act encourages the private sector to create strong partnerships with the public sector, thereby promoting P3s and strengthening the country with the substantial benefits the partnerships offer.