If there’s one thing that’s made headlines recently, it’s President Biden’s infrastructure bill. The multi-billion-dollar spending package promises to fund projects rejuvenating the country’s infrastructure. It also promises to provide more business and jobs to communities that need them the most.
The bill basically is just to set a larger portion of the federal budget aside for transportation infrastructure spending, instead of other areas. More money will be distributed to states and communities to be spent on infrastructure development. The way they distribute that money to businesses may be different per location though.
Keep reading below to learn more about infrastructure spending and how it can impact communities and businesses.
Transportation Infrastructure Is About to Improve — A Lot
The Biden Administration identified issues in the infrastructure system across the U.S. and set out to solve them. They started pushing for solutions way back when Biden was still running for president. Not only do they hope to repair the country’s roads and bridges, but they also hope to create jobs.
This infrastructure bill isn’t just meant to improve roads so there are fewer potholes. By spending more on roadwork, the administration hopes to create more jobs for people across the country. They also hope to spur job growth in transportation with more efficient roads.
And since the economy has slumped due to the COVID-19 pandemic, infrastructure improvements should provide much-needed stimulus. Building better roads is one of the safest bets anty leader can make.
States And Departments Decide How Many is Spent
The money isn’t available right after Biden signs the bill. Instead, states and departments across the U.S. need to decide on how the money should be spent. First, governors will allocate budgets for specific regions or specific infrastructure sectors.
Then, departments with access to that budget will decide how it is spent. This makes the federal bill more local since it can address specific infrastructure problems in communities across the country. To make sure the bill has an impact, businesses need to wait before the money comes their way.
Infrastructure Development Starts With Earthwork
It doesn’t matter if a community needs a new road or a new bridge — the first step is almost always earthwork. The ground around a project site needs to be moved around to make sure there is room for it to be built. And if earthwork isn’t done right, it can jeopardize the entire project.
Crews need to make sure that the ground is safe to build on, and that it can handle the stress of a structure without moving. Otherwise, the new road or bridge can face issues months after it is completed. Cracks can form if the ground underneath moves, leading to bigger issues down the road.
So, all infrastructure companies can benefit from the bill — not just those in the transportation sector. Tons of different kinds of skilled labor are needed to make sure the work is done right.
The Transportation Infrastructure Budget Benefits Communities and Businesses
The best part about the infrastructure bill isn’t its promise to stimulate the economy, or the renewed spending. The best part is the fact that businesses and community members alike can benefit from it. New roads aren’t just for companies — they’re for everyone.
With better roads, communities can drive safer and experience fewer accidents. And over time, people may find new jobs as bus drivers or rideshare drivers. Companies that ship products may also move through the area, bringing money with them.
Prepare For More Spending
The biggest impact the transportation infrastructure bill will have is its increased spending. By spending more money to benefit the country, everyone in it will benefit. And the fact that America’s roads needed repairs was not exactly a secret.
Now though, construction companies are in a position where they can actually do something about it. They just need to prove to departments and communities that they can handle the work. And to see what an experienced company can do, just reach out to us.