Modernizing America’s infrastructure
Infrastructure legislation to benefit a myriad of industrial players, bolster national competitiveness
Roughly half of the approximately $550 billion of new spending in the Infrastructure Investment and Jobs Act ("the Act") is allocated to improving and expanding the nation’s passenger and freight transportation networks. The funding spans virtually all transportation infrastructures: roads, bridges, airports, rail, marine ports and public transport.
One third of the new spending is earmarked to modernize and make more resilient the country’s power grid, support renewable power, safeguard the nation’s water supply and distribution system and “climate-proof” critical infrastructure. The Act also includes money aimed at narrowing the digital divide by supporting expansion of connectivity to underserved parts of the country.
The legislation is aimed at strengthening national infrastructure, as the demand to harden infrastructure against climate-change events and cyber attacks escalates. Industries that rely on these networks, such as logistics firms, airlines, railroads, solar and wind power operators, and online commerce, should stand to benefit. Improvements in transportation networks and a more reliable power grid will likely benefit virtually all industries through the promotion of greater efficiencies in supply-chain networks. The efforts also include money to help decarbonize power and energy.
We took a closer look into how the Infrastructure Investment and Jobs Act impacts the following industries, where the money will go and the implications of passage.
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The message for business
This infrastructure push potentially supports wider and longer-term needs for numerous industries—and for the nation as a whole. Given that funds would be disbursed over several years, some companies could position themselves to become infrastructure-building participants in ways that could help drive top and bottom lines. In a larger sense, the legislation could increase productivity and efficiencies in production and through supplier networks. It could promote greater domestic production and long-term job creation, enhance worker safety and improve quality of life, attracting talent and economic revival to areas of the country that have languished.
Modernize
Billions of federal dollars are allocated to road, bridge, rail and other modernization projects, with significant implications for businesses that depend on this infrastructure.
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Decarbonize
The provisions signal that the drive toward a more sustainable economy powered by low-carbon alternatives—including wind, solar, hydropower and nuclear—is bipartisan and considered to be in the national interest.
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Secure
Cybersecurity is not optional. The bipartisan deal allocates funding for governments to upgrade their networks, and invests to better secure power and water infrastructures.
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Fund new infrastructure
The infrastructure agreement draws on unused pandemic relief funds, strengthened tax enforcement for cryptocurrency and other offsets for funding.
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