The market for private investment in U.S. infrastructure is both alluring and frustrating. It is a great emerging infrastructure market opportunity and yet for all its promise, it remains a paradox. As the epicenter of global capitalism, many expected private investment in U.S. infrastructure would be a no-brainer.
Instead, what many have learned is that the United States’ political and governing institutions and traditions — state, local and federal governments; transportation authorities; regional oversight bodies; environmental regulations; and so on — are quite different from what they are used to.
Private investment is making its way into the market; it is just that the hopes of massive capital flows and multibillion-dollar funds snapping up airports, roads and pipelines have yet to materialize.
Instead, that expectation has met an American procurement system that operates differently than others and public sector a