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 13, 2012
New York City’s building department investigating structural collapse that killed worker
Following a worker’s death, the collapse of a century-old, two-story warehouse under demolition as part of Columbia University’s expansion is under investigation by the city’s Building Department.
| Apr 13, 2012
Federal court reduces statute of limitations for OSHA action on record-keeping violations
The U.S. Court of Appeals for the D.C. Circuit sharply curtailed the period of time that companies can be cited for Occupational Safety and Health reporting violations, reversing the decision of an administrative panel and longstanding agency precedent.
| Apr 13, 2012
CSI webinar: Green Construction Codes Are Here -- Now What?
This seminar will trace the origins of green codes, how they compare and differ from the rating systems that have been used, and examine some of their main features.
| Apr 5, 2012
Retailers, banks among most affected by new ADA rules
On March 15, the most significant changes to the Americans with Disabilities Act (ADA) since it became law in 1991 went into effect.
| Apr 5, 2012
Florida ranks first in hurricane building codes and enforcement
Florida ranks highest among 18 hurricane-region states for building codes and their enforcement, according to the Insurance Institute for Business & Home Safety.
| Apr 5, 2012
New IgCC green building code is a ‘game changer,’ AIA official says
An AIA official calls the new International Green Construction Code (IgCC) a “game changer” for sustainable construction.
| Apr 5, 2012
Model energy codes add thousands to cost of new apartment construction, study says
New energy codes could add thousands of dollars to the construction costs of each individual apartment residence in a multifamily building, according to new research commissioned by the National Multi-Housing Council and the National Apartment Association.
| Apr 5, 2012
LEED 2012 will include new requirements for data centers
The U.S. Green Building Council’s updated LEED 2012 standards will require two systems to be modeled for each project in order to show power utilization effectiveness.
