Without action, US headed for infrastructure ‘crisis’: Study
NEW YORK — America needs to overhaul its outdated regional infrastructure planning process and create a viable federal framework, or face compromising its ability to compete in a global marketplace.
That’s the advice from the Urban Land Institute and Ernst & Young, which co-authored a new report titled “Infrastructure 2008: A Competitive Advantage.”
The study provides a snapshot of current and planned infrastructure investment in a variety of categories across the globe, with an in-depth look at North America, China, Japan, India and Europe.
“The status quo increasingly looks like a precarious option — relying on existing networks and systems will only hamstring future growth and compromise sustainability,” the report states.
The report says the United States is headed toward decline, and needs to wake up to the dire state of its infrastructure, but cautions that “political will may only emerge when people face imminent reward or immediate risk — a bridge collapse or a burst levee, and maybe not even then.”
“America heads for a crisis in the next 10 years if nothing is done,” warns the report.
it could lead to economic collapse: Study
“It is increasingly clear that the infrastructure funding gap will need to be addressed with public/private partnerships,” said Dale Anne Reiss, global director of real estate, Ernst & Young, LLP in New York City. “If the U.S. fails to embrace this model, it could lead to our economy falling behind more of our global competitors.”
The report notes that a bill introduced in the U.S. Senate proposes a national infrastructure bank, while other proposed legislation calls for “Build America Bonds” to pay for transportation infrastructure.
A number of recommendations are included in the report, such as: breaking down government silos, focusing on deferred maintenance, and developing national and regional infrastructure plans.
The report also recommends new funding strategies, including: user fees; interstate toll roads; funding based on reducing vehicle miles traveled; subsidies to encourage infill housing and commercial development served by mass transit in pedestrian-friendly communities; stop subsidizing sprawl; and stop tapping user fees to make up for other shortfalls.
Copies of the report are available at www.uli.org/reports/i19 (click link below)
— Via Truckinginfo.com
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