In case it wasn’t crystal clear already, the world is woefully lacking when it comes to investment in infrastructure, especially in the United States. That was the overriding theme of this year’s ULI and Ernst & Young study titled Infrastructure 2011: A Strategic Priority.
“In the U.S., we are spending only half the amount that needs to be spent on infrastructure,” says Maureen McAvey, executive vice president of ULI. “Federal stimulus money will dry up by 2013. New transportation legislation is stuck in neutral. There is a strong anti-tax sentiment and no consensus on how money for infrastructure should be raised and spent. Every decade between now and 2050, this nation will add over 30 million new people. In addition to moving all these people, the nation has to move goods.”
In addition to affecting public