The quality of infrastructure in the U.S. ranks just 19th in the world, trailing countries such as Oman, Portugal, and Spain, according to the World Economic Forum’s Global Competitiveness Report. Financially strapped state and local governments are responsible for the poor showing.
The American Society for Civil Engineers (ASCE)gave the U.S. a D+ in its annual Infrastructure Report Card, saying the country needs to invest $3.6 trillion by 2020 to upgrade our infrastructure. Infrastructure spending continues to lag, even while the economy adds jobs, GDP continues to grow, and home sales rebound following the recession.
States, counties, and cities, which are primarily responsible for funding schools, roads, waste disposal facilities, and other community assets, are focused on paying down debt and don’t have the money for a needed infrastructure spending spree. In the last few years, the bond markets have issued few notes for new capital projects despite historically low interest rates, according to the Securities Industry and Financial Markets Association. Much of the current municipal bond issuance appears to be refinancing.
In addition, with the federal government’s Highway Trust Fund expected to run out of money in August unless Congress replenishes it, many state transportation projects are in limbo.
(http://fivethirtyeight.com/features/why-we-still-cant-afford-to-fix-americas-broken-infrastructure/)
Related Stories
| Sep 29, 2014
Navy to begin BIM phased implementation in October
The U.S. Naval Facilities Engineering Command will begin its Building Information Management and Modeling (BIM) Phased Implementation Plan in October.
| Sep 18, 2014
GBCI to administer PEER certification for power grids and building projects
The Green Building Certification Institute (GBCI) will administer certification for the Performance Excellence in Electricity Renewal (PEER) program.
| Sep 18, 2014
Master Painter Institute approves 55 new paint products
The Master Painter Institute has issued approvals for 55 new paint products.
| Sep 18, 2014
OSHA announces new requirements for reporting deaths and severe injuries
The U.S. Department of Labor's Occupational Safety and Health Administration announced a final rule requiring employers to notify OSHA when an employee is killed on the job or suffers a work-related hospitalization, amputation, or loss of an eye.
| Sep 18, 2014
Eugene, Ore., passes ordinance to achieve steep energy consumption reductions
The Eugene, Ore., City Council recently passed an ordinance aimed at steeply reducing energy consumption and greenhouse gas emissions.
| Sep 10, 2014
Nine out of 10 New York City building plans fail energy code test
Earlier this year, New York City's Department of Buildings began auditing thousands of architectural plans for new and renovated office and residential buildings.
| Sep 10, 2014
AIA, CSI, and NIBS publish updated national CAD standard, includes new BIM module
The NCS helps architects, constructors and operators coordinate efforts by classifying electronic design data consistently and making information retrieval easier, the industry groups say.
| Sep 10, 2014
Perry named new director of OSHA’s Standards and Guidance Directorate
Bill Perry has been named new director of the OSHA’s Directorate of Standards and Guidance, effective Aug. 24, 2014.
| Sep 10, 2014
ASHRAE proposes verification for energy standard
The ASHRAE/IES energy standard would have multiple compliance options to ensure verification of delivered building envelope performance under a new proposal.
| Sep 2, 2014
Micro-apartment concept can’t get traction in Boston suburb
Micro-apartments are gaining acceptance in nearby Boston and in places such as San Francisco and New York, but Weymouth, Mass., officials and neighbors were not receptive to a proposal for tiny dwellings this summer.
