Member contribution to US 'Build Back Better’ agenda
As the US ramps up infrastructure investment, new research shows GIIA members supporting recovery efforts to the tune of $324bn.
With US President Joe Biden making infrastructure investment the centerpiece of his 'Build Back Better' framework, our latest research reveals how private investors are supporting critical energy, transport and utility networks across the country.
Having ratified the monumental Infrastructure Investment and Jobs Act last year, Biden has now put pen to paper on the Inflation Reduction Act - the legislation collectively promises more than $1.5 trillion in funding, incentives and tax credits for sustainable infrastructure investment over the coming years.
In the third episode of our Talking Global Infrastructure podcast, the GIIA's Lawrence Slade and David Quam discuss full implications of the new laws alongside Tom Curtin of the National Governors Association.
Our new study shows the GIIA community already making a considerable contribution to the 'Build Back Better' agenda, with $342bn of infrastructure assets under management across 50 states, collectively providing:
- 54,604 megawatts of renewable wind, hydro, biomass and solar power
- 167,558km of fibre broadband cables
- 36,000 km of road and rail track
- 2 airports and 48 sea ports
- And 36,658 telecommunication masts and towers
In the southern states of the US alone, members have invested in 26 wind farms, 9 solar farms, 19 fibre projects, 1 airport, 24 ports and 6 water networks.
We're now working with state governors and infrastructure coordinators to ensure new federal funding crowds in, rather than crowds out, the further private investment needed to secure a sustainable path to economic recovery and net zero emissions.
Download our US infographics in full (at the top right hand of the page) for a state-by-state breakdown of GIIA investments across the country.