Final package should include federal and state funding, private sector incentives, and multiple financing options
Today the White House released "principles" of an initiative to entice $1.5 trillion in new infrastructure spending that includes proposed regulatory changes to hasten construction on infrastructure projects.
"Our nation needs a broad-based infrastructure modernization strategy that certainly includes roads and bridges, but also should address urban water systems, buildings, and the essential electric grid," said NEMA President and CEO Kevin Cosgriff.
"The electrical grid is one of our nation's most important infrastructure assets. Every aspect of the U.S. economy and virtually every aspect of modern living depend on the safe, reliable, and efficient flow of electricity into homes and businesses. Just as President Eisenhower revolutionized surface transportation via the Interstate Highway System, modernizing the electrical power system to meet the challenges of the 21st Century is equally as compelling."
"Achieving a modernized infrastructure requires a call to action for both the public and private sectors to invest in all segments of infrastructure. Plans that utilize advanced, digitized electrification technologies will grow the economy, create new jobs, and improve our competitive position in a global economy," Cosgriff added.
"We also need a government that positively partners with industry as well as moves at the speed of commerce in removing barriers, so that together we can quickly and affordably meet the needs of citizens across America."
Electrical Manufacturers Association (NEMA) represents nearly 325 electrical
equipment and medical imaging manufacturers that make safe, reliable, and efficient products
and systems. Our combined industries
account for 360,000 American jobs in more than 7,000 facilities covering every
state. Our industry produces $106 billion shipments of electrical equipment and
medical imaging technologies per year with $36 billion exports.