Widely seen as a jobs creator and an engine for economic growth, increased investment for transportation projects has been championed by Democrats, Republicans and numerous business interests. However, discovering new ways to pay for transportation projects has become difficult as budget cuts and fiscal constraint overshadows the nation’s need to invest in infrastructure improvements.
As a top priority for NAIOP, we have been working with leaders in both parties to educate them on the importance of increased transportation and infrastructure investment. The success of commercial real estate projects depends heavily on these investments and viable connectivity strategies that incorporate different modes of transportation.
Federal transportation and infrastructure funding is critical for a thriving real estate industry and to grow our economy. The success of commercial real estate projects depends largely on infrastructure investments and viable connectivity strategies that incorporate different modes of transportation, including highways, roads, rail and mass transit.
Congress should create new innovative funding solutions to meet our nation's infrastructure and transportation needs. NAIOP supports increased funding of new public-private partnerships and tax incentives that encourage private investments for infrastructure improvements.
In 2015, Congress passed Fixing America’s Surface Transportation (FAST) Act. The bill will fund our nation’s highways and transit systems until 2020.
The measure, known as the first transportation bill enacted by Congress in over a decade that guarantees more than two years’ worth of funding.
The bill represented a significant victory for the real estate community and includes many of the elements that were outlined in NAIOP's legislative agenda. Which, provides over $305 billion for five years. The Trump Administration has promised to pursue a robust infrastructure program.