Washington, D.C. — The following is a statement from Randall (Randy) S. Over, P.E., F.ASCE, president, ASCE on the Build America Investment Initiative:
“Today’s action by President Obama to launch the Build America Investment Initiative comes at a critical time as we witness Congress still debating how to provide a long-term, sustainable solution to the federal Highway Trust Fund. While private sector financing can by no means replace public funding, states and localities urgently need all of the best tools available to provide transportation solutions for their communities.
“The newly-created Build America Transportation Investment Center can play a vital role in sharing best public-private partnerships (P3s) practices and encouraging more states to utilize P3s to a greater degree, thereby creating a more robust U.S. market and attracting private sector investment in our nation’s transportation infrastructure.
“ASCE looks forward to working with the Obama Administration to positively implement this action in the coming weeks and months. ASCE supports a comprehensive funding and financing program for operating, maintaining, and improving the nation’s transportation system, which includes P3s, infrastructure banks, bonding and other innovative financing mechanisms. If utilized appropriately, these financing mechanisms can help leverage available transportation funding and play an important role in delivering projects and managing assets effectively.”
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Founded in 1852, the American Society of Civil Engineers represents more than 145,000 civil engineers worldwide and is America’s oldest national engineering society. For more information, visit www.asce.org.