The Council plans to consult with a range of infrastructure stakeholders, including engineering and construction firms, labor, manufacturers, suppliers, users and financing experts. It will explore measures that aim to improve the transparency, standardization and accuracy of project information and assess the potential for infrastructure to become a tradable asset, like stocks or bonds. It also hopes to identify current legal and regulatory barriers to private investment and explore ways to address them.
Patrick Decker, president and chief executive of Xylem, stated the critical skills that Council members bring. “As business leaders, we are accustomed to seeking out innovative ideas to drive progress,†he said. “Working together, we will bring a pragmatic approach to identifying new ways to finance all types of critical infrastructure.â€
The Council will also benefit from the advice of a bipartisan panel of former elected officials, who will provide insight on the political feasibility of any recommendations.
“Any serious answer to solving the issue of America’s aging infrastructure should include state and local governments working with the private sector in innovative ways; together, we can rise to this challenge,†noted Suzanne Shank, president and CEO of Siebert Branford Shank & Co., LLC.
“A modern and reliable infrastructure is essential for economic growth and public safety, and to ensure America’s continued global economic competitiveness,†added P. Scott Ozanus, KPMG’s deputy chairman and chief operating officer.