FACT SHEET: Build America Infrastructure Investment Summit | The White House
Investing in 21st century American infrastructure is an important part of the President’s plan to build on the progress our economy is making by creating jobs and expanding opportunity for all hardworking Americans. That’s why earlier this summer the President launched the Build America Investment Initiative, a government-wide effort to increase infrastructure investment and economic growth by engaging with state and local governments and private sector investors to encourage collaboration, expand the market for public-private partnerships (PPPs), and put federal credit programs to greater use.
As part of the Build America Investment Initiative, the Obama Administration hosted the Infrastructure Investment Summit at the U.S. Department of the Treasury. At the Summit, over 100 leaders from industry, finance, philanthropy, and local and state governments convened with senior Administration officials to highlight the growth in the U.S. infrastructure market, build partnerships, and develop strategies for increasing investment in sectors like transportation, water, telecommunications, and energy. Highlights include:
The Summit brought together investors intending to deploy more than $50 billion in U.S. infrastructure. The Summit brought together global investment and advisory firms, dedicated infrastructure investors, international asset managers, utilities and construction companies, and pension funds collectively representing more than $50 billion of projected private capital investment in the U.S. infrastructure market over the next five years.
The federal government, local and state governments, philanthropists and others announce investments to expand infrastructure development. The Obama Administration and other stakeholders announced a series of investments and commitments at the Summit, including:
– A $950 million loan for the Orlando, Florida I-4 Ultimate highway project from the U.S. Department of Transportation, the largest loan ever completed for a public-private partnership from the TIFIA program.
– $518 million in loans for electricity infrastructure from the U.S. Department of Agriculture.
– The creation of a new partnership for infrastructure innovation by the Ford Foundation and Rockefeller Foundation.
The Department of Transportation and the Transportation Investment Center announced new tools and policies. This July, President Obama launched the Build America Transportation Investment Center at the U.S. Department of Transportation (DOT). The Center has already taken significant steps forward to advance best practices and promote innovative approaches and tools.