The backbone of America -- infrastructure
While awarding a grant for upgrades to the Port of Baltimore today, Vice President Joe Biden talked about the importance of infrastructure investment not only for Maryland, butthe rest of the country. Here at the Alliance for American Manufacturing (AAM), we say: Good call, Mister Vice President.
Biden presented the port with a new TIGER grant (one of 52 in a Department of Transportation discretionary grant program), which will go toward widening the port's channel and increasing its cargo storage space.
TIGER grants are one way the federal government is reinvesting in infrastructure, and they're a step in the right direction. In a report last year, AAM noted that infrastructure investment will play a big part in manufacturing revitilization effort. This sentiment is echoed by Leo Hindery, Jr. in ReMaking America:
All of the nation’s manufacturers, from the largest multinationals to medium-sized manufacturers and to the smallest of (small- and medium-sized enterprises), would greatly benefit by participating in the large-scale rebuilding and upgrading of the country’s very dilapidated and inadequate infrastructure.
Reinvestments in infrastructure create jobs, trigger economic growth in all economic sectors, and encourage private investment, to boot.
In short? Infrastructure is a public good that benefits everyone — from steelworkers to soccer moms. Kudos to the Obama administration on smart, targeted investments like the TIGER grant program.
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