The North American infrastructure market has been heading toward a tipping point of new business opportunities, according to the latest study by the nation’s preeminent infrastructure advisory firm.
CG/LA Infrastructure’s study Building Prosperity: 2015 Strategic 100 North American Infrastructure Report identifies those strategic projects, all incorporating transformative technologies, such as the innovative power of 3D printing, commercial drones, self-driving vehicles and electricity storage, to unleash $376 billion in infrastructure business opportunities on highways, bridges, rail, the power grid and urban mobility over the next 12 months.
“Advanced technologies promise a transformation in the marketplace that will propel revolutionary new undertakings and modernize legacy projects in highways, bridges, rail, the power grid, and urban mobility,” CG/LA Infrastructure President and CEO Norman Anderson said. “Our challenge as an industry is to create a new market framework, creating better projects, faster approvals, and channeling great ideas into prosperity driving reality.”
As the report states, The Gateway Project — the critical tunnel between New York and New Jersey — was ranked number one for 2015, a project crucial to the prosperity of the New York region. On a regional basis: New England had eight projects, valued at $28.5 billion; the Mid Atlantic had 17 projects, valued at $43.8 billion; the South/Southeast had 24 projects, valued at $39.1 billion; the Midwest had 5 projects, valued at $20.3 billion; and the West had 26 projects, valued at $163.6 billion. Canada had 12 projects on the list, collectively valued at $61.2 billion and Mexico had 8 projects, valued at $19.9 billion.