Why construction professionals should care about the Bipartisan Infrastructure Bill, and what to do about it.
The U.S. Congress recently passed a huge infrastructure bill, promising to revitalize buildings, roads, bridges, tunnels, and the like, across the country.
To some, this development comes across as uninteresting. It will take years for the changes promised to unfold, and road work can certainly seem less productive in the midst of continuing concerns about COVID-19 and the economy.
But especially for those in the construction industry, this massive investment in long-term infrastructure is a big deal.
So, let’s talk about infrastructure, and what effects the new bill may have on New York construction.
Why Care About Infrastructure?
Public infrastructure is all about the public works and physical systems that support our everyday lives: transportation, telecommunications, plumbing and waste removal, electricity and power, water access, and so on.
While some polls have shown citizens express concern over investing in infrastructure over the more immediate problem of economy and supply chain problems, investing in infrastructure:
The recent Infrastructure Investment and Jobs Act in particular aims to generate over one million jobs over the next 10 years across the country. Considering New York is one of its biggest cities, it would not be surprising to see a significant number of those jobs, particularly construction jobs, end up here.
Where will New York use its infrastructure dollars?
Transportation is the biggest candidate for much of the infrastructural improvements. Between plans to renovate two of the city’s biggest transportation hubs, decades of state-level disinvestment, and the drop in ridership throughout the pandemic, the MTA’s needs are extensive – they are reportedly receiving about $10 billion of New York’s allotted amount.
In the short term, the money from the infrastructure bill will help mass transit across the state avoid unpopular price hikes and service changes. In addition, the MTA has stated plans to use some of the money towards the previously-discussed Zoning for Accessibility initiative, which was officially approved in October 2021.
While improvements to roads and bridges seem to be the main push, other potential infrastructure projects will include replacing water pipelines to ensure cleaner tap water and redesigning streets to prevent flooding like the damage seen late last summer.
What should industry professionals do?
All in all, infrastructure projects are incredibly important to the backbone of New York City. With the passage of the Infrastructure Investment and Jobs Act, there will be a major increase in jobs and projects for the construction industry for years to come.
However, with funding concerns eased, there are concerns about whether companies will be able to keep up with demand. Industry professionals will need to be on top of the latest expertise and technology to keep their projects flowing. With this in mind, there is plenty of opportunity to take advantage of the boon these projects will bring.
If you need help staying on top of your projects, from resolving violations to securing permits, please talk to the experts at Outsource Consultants today.
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