It is not a secret that the US infrastructure is in a bad shape. There hasn’t been a serious investment in this sector for a few years now. Fortunately, the current administration is making plans to take care of the crumbling infrastructure across the country, both by making a serious investment and by supporting state governments in taking a more active role in maintenance.
However, the increased investment in the pipeline isn’t the only reason why it is a great time to be in the industry. Here are some of the other reasons why infrastructure is the industry to be in.
Support from the Education Landscape
In response to the looming demand for investment in infrastructure, the education world is gearing up to provide the market with quality civil engineers and supporting talent. Universities such as Norwich University are making their online MCE program available to more students across the country. Interest in the civil engineering field is also on the rise, with more students joining the online civil engineering program.
The rise in talent will help speed up future infrastructure investment. When the money starts coming in, qualified talent will be ready to support the industry. It is also worth noting that now is the best time to pursue a degree in this field, knowing that the market will be at its peak in the coming years.
Support from the States
Take a look at gas taxes and you will see a steady hike. States across the country are increasing gas taxes, one of the leading sources of funding for infrastructure investment. The taxes will help fund the maintenance of existing roads, as well as projects to build new ones.
It doesn’t stop with gas taxes either. Connecticut and Washington, for example, are already in the process of establishing a multi-year transportation improvement initiatives. Regulations surrounding multi-year projects are also being improved to make them more accommodating for a bigger investment.
Add the fact that the administration will be allocating more than $1 trillion towards infrastructure investment and it is apparent that the market is shifting in the right direction. Experts predict that the infrastructure industry will grow faster than healthcare in five to 10 years.
Making America Great Again
We can’t negate the fact that a substantial investment in infrastructure is good for the country. We’re not just talking about repairing the crumbling infrastructure and establishing new ones. We’re talking about job creation on a massive scale, which will lead to higher consumption rates and economic improvement.
Infrastructure becoming sexy again is a great thing for the country. It also promotes innovation and allows for a more sustainable growth in the long run. Let’s just hope the lawmakers and the current administration stay on course and make the plans we’ve seen thus far a reality, and that they do so in a timely manner. After all, US infrastructure is failing and rapid action is needed to stop it from decaying any further.