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
| Apr 18, 2014
Massachusetts Supreme Court clarifies building code liability issue on mixed-use projects
The Massachusetts Supreme Judicial Court recently ruled that distinct portions of a mixed-used building may be treated as distinct and different structures under the state building code.
| Apr 18, 2014
First international buildings among 700-plus certified by BOMA 360 Performance Program
In the first quarter of 2014, the Building Owners and Managers Association (BOMA) International certified 66 properties in the BOMA 360 Performance Program for commercial real estate markets across the U.S and, for the first time, abroad.
| Apr 16, 2014
OSHA proposes $2.3 million in fines against Olivet Management for exposing workers to asbestos and lead
Olivet Management LLC, a real estate development and management company, faces $2.3 million in proposed fines from the Occupational Safety and Health Administration.
| Apr 10, 2014
Green Building Certification Institute partners with Well Building Institute on standard
The Green Building Certification Institute (GBCI), which administers third-party certification for the LEED standard, and the Well Building Institute will collaborate to promote the WELL Building Standard.
| Apr 10, 2014
OSHA’s construction safety advisory committee invites input on construction regulations
The Occupational Safety and Health Administration will hold a meeting of the Advisory Committee on Construction Safety and Health May 7-8, 2014, in Washington, D.C.
| Apr 10, 2014
ASTM’s International Standards in Building Codes now available in DVD and online
The compilation ASTM Standards in Building Codes contains more than 1,300 ASTM construction specifications, practices and test methods, and is now available in DVD and online.
| Apr 10, 2014
New California energy code requires building systems to be ready for demand response energy management
Starting in June, California’s latest version of its Title 24 building code kicks in, requiring several systems come with demand response capability.
| Apr 4, 2014
Green Building Initiative moves to include locally sourced materials in Green Globes
The Green Building Initiative group based in Portland, Ore., met with the Department of Agriculture on a plan to include locally sourced materials in its green building standards.
| Apr 4, 2014
White roofs outperform green roofs in reducing heat-island effect, says Lawrence Berkeley Lab
A new report from LBNL says that white roofs are three times more effective than green roofs at “cooling the globe.”
| Apr 4, 2014
ASHRAE standard aims for consistency in measuring building energy use
The standard answers such questions as: Should the measurements of a building’s area used in the equation to derive energy use per square foot be taken from the exterior dimensions or to the centerline of the wall? And, should storage spaces be included even though they are unoccupied?
