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
| Jan 30, 2012
ZigBee and ISO 50001: Two new standards to make buildings greener
These developments demonstrate the dynamic nature of the market and the continued need for development of program standards of many different types that help builders and owners translate high performance and sustainable buildings goals into practical measures on the ground.
| Jan 30, 2012
New firm-fixed-price rules on federal contracts impact construction industry
Contractors will need to be on the lookout for policies such as the Contractor Accountability for Quality clause.
| Jan 30, 2012
Roofer’s fatal plunge demonstrates need for fall-prevention regulations
“The biggest problem is getting our workers to use the equipment,” says Michael J. Florio, executive director of the organization.
| Jan 26, 2012
Tampa moves to streamlined online permitting system
The system will replace an inefficient patchwork of old software and is designed to provide businesses, homeowners, and contractors with online access to permitting and licensing information.
| Jan 26, 2012
EPA to collect more data, seek comments before finalizing mud rule
The EPA says it will seek more data and is accepting comments until March 5.
| Jan 26, 2012
Industry challenges Connecticut's suit over defective construction work
The dispute arose over multimillion-dollar leaks at the University of Connecticut's law library.
| Jan 26, 2012
Earthquake 'fuse' could save buildings during temblors
The idea is to use an earthquake "fuse" that can prevent the tiny fractures and warps that make structures unsafe after a quake and very expensive to repair.
| Jan 26, 2012
HPD open materials standard for green building materials gains momentum
GreenWizard, provider of a cloud-based product management and project collaboration software, is the latest industry participant to sign on
| Jan 26, 2012
Siemens launches smoke detection knowledge center
New knowledge center web site demonstrates efficacy of smoke detection.
| Jan 18, 2012
Chile's seismic code upgrades credited with saving lives in 2010 quake
Since 1960, when Chile suffered a 9.5 magnitude quake, the largest ever recorded; the country has steadily improved building codes to protect lives and property.
