Published on Fox News | February 21, 2018
Thomas J. Bisacquino
Politicians in Washington are struggling to build bridges across the political aisle. But they could improve the political climate if they’d focus on the actual building (and repairing) of bridges, said Thomas Bisacquino, NAIOP president and CEO, in an opinion editorial published on Fox News.
It reads, in part:
To drive successful infrastructure expansion, Washington needs to encourage the growth of public-private partnerships (P3’s) to deliver more private sector investment for major projects. It can do that by promoting a regulatory and tax environment for investment that attracts dollars and technology from the private sector.
Policymakers also need to make more land available for development. A leaked administration infrastructure draft cited reform of the federal brownfield program to encourage development. According to that document, the administration wants to make it easier for state and local governments to permit brownfield development.
The federal government also needs to reassure private investors that it will be a good partner. It needs to set clear rules that private entities can comply with, and ensure that those rules stay in place throughout the lifespan of a project. If the rules change every election cycle, few will want to partner with the federal government.
In the real estate industry, infrastructure encourages development. People are more likely to develop property, start businesses and choose to live where the roads, bridges, ports and power grid are dependable.
That will require government investment, this year and for years to come. But if Washington is willing to make the initial investments, Americans can build the world’s best infrastructure, and keep the country growing for decades to come.
Read the full piece on Fox News.
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