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 agencies that were not