The Port Authority of New York and New Jersey expects to start construction of a $1.5 billion cable-stayed bridge connecting Elizabeth, N.J. and Staten Island, N.Y., by year-end now that a public-private partnership financing package has been agreed.
Last month, in a blog post we mentioned that California has one of the highest gas taxes in the nation and we wondered if it wasn’t time for a rethink in the way we finance our roads. Other West Coast states are apparently way ahead of us.
The Brookings Institution held a forum in Washington D.C. last month titled ‘Can-Do States: A New Era for Infrastructure Investment.’ Public and private sector representatives from Colorado, New York, Virginia and British Columbia discussed their various approaches to public private partnerships.
A report from the American Petroleum Institute said that California has the highest state excise tax on gasoline of any state in the country, at 36 cents per gallon. Compare this to Florida at 4 cpg; New York, 8.1 cpg; New Jersey at 10.5 cpg, or even the national average of 20.9 cpg, and you would probably think that California’s roads are the best in the nation.
A report issued by global private equity advisor Altius Associates reportedly forecasts that institutional investors are set to increase their allocations to infrastructure funds from 1 percent to 5 percent of total assets over the next decade. If such a prediction comes to pass, that’s good news for California infrastructure.
At a speech in Miami in April, President Obama returned to the topic of infrastructure development in the United States. It’s a contentious debate that is frustrating to many of us because there seems to be widespread agreement that the U.S. needs updated infrastructure.
A new study by CBS Marketwatch shows the widening gap between the haves and have nots among California municipalities.
Wanna buy a bridge? No, but we’ll build it for you…
T.Y. Lin International has received an Honor Award from the California Chapter American Council of Engineering Companies for their work on the Taijiang Bridge in Sanmin, Fujian Province, China.
T.Y. Lin International has received an Honor Award from the California Chapter American Council of Engineering Companies for their work on the Rose Creek Bikeway and Pedestrian Bridge in San Diego.
