America’s infrastructure is desperately in need of upgrading.
According to the American Society of Civil Engineers (ASCE), the four states in the NY metropolitan area (NY, NJ, CT, PA) earned grades between C- and D+ in their most recent reports (Check your state’s grade using this link).
Politicians are united on this issue and action is imminent. As an example, for the fifth year in a row a National Voter Survey, conducted by a Bi-Partisan Group on March 7-18, 2020, showed American voters strongly favoring increased federal investment in the nation’s water infrastructure, with a near unanimous 84% majority.
Addressing the infrastructure shortfall
A host of approaches have developed to deal with this. For example, Public /Private Partnerships (P3) are a growing trend that makes sense for everyone involved. Look at the most recent P3 Venture of SpaceX and NASA propelling the USA back in the Space Industry. Union financed investment funds such as those from Ullico are making substantial investments from union pension funds to move infrastructure projects forward, and many P3 efforts in the Airport Industry are currently in full swing across the USA.
Will your firm be part of the infrastructure solution?
You may not know when or where (but you can probably take a good guess), but you have to be ready when opportunity comes. If you’re not, your competitors will most certainly be.
Part of being ready is to line up all your ducks. That includes establishing relationships with funding sources, identifying the best hiring sources for labor, all of the things you need to have in place to rapidly scale when the opportunity presents.
You need Surety Bonding capacity as well
Once the bids are out, it is too late for any of this. To get a head start on establishing a bonding relationship, please call us at (914) 667-7700 x122, so we can help you get ready to pounce when the next Infrastructure opportunity presents itself.
References used below:
Public / Private Partnerships (P3)
Ullico Investment Fund
American Society of Civil Engineers (Check your State’s Grade)
FM3 Research & New Bridge Strategy