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MARCH 2022 NEWSLETTER |
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FROM THE CORNER OFFICE |
John Sartor, PE
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Dear Friend of PS&S: Last November, President Biden signed a $1.2 trillion bill for infrastructure projects in the United States. If you're in the architecture, engineering, and construction community, this is big news and something we have all been hoping for and anticipating for many years -- not just as professionals but also as citizens of New Jersey, New York, and Pennsylvania where much of the infrastructure package dollars will be spent. The spend is massive and a significant portion of the funding is dedicated to upgrading existing infrastructure, such as roads, rail, utilities, water/wastewater, and bridges. It’s clear that multiple firms will need to work together to accomplish these projects. For the most ambitious projects, there are a limited number of prime and subcontractors with the capabilities and strong track record of success working with local, state, and government agencies. The need for upgraded infrastructure is something that we all witness in our everyday lives. Some of the work likely to begin are marquee projects such as the next leg of the 2nd Avenue Subway and the Gateway Tunnel under the Hudson River. Others include the Pulaski Skyway and I-295, I-76, Route 42, and numerous NYC and NYS infrastructure projects. Indeed, as you can see here in the graphic from The Washington Post, the biggest single chunk of the infrastructure bill is for roads and bridges at $110 billion. |
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With the commencement of these projects, our nation is undertaking the biggest infrastructure project for roads, highways and bridges since the 1950s. That's a long time ago now – and I am sorry to say -- beyond the useful life of much if not most of the infrastructure in question. At PS&S, we're now looking at what we can do as a company to add value and grow along these projects over the next eight years of government spending and, in our case specifically, in the next three years, in line with an internal “Roadmap to 2025” Strategic Growth Plan we have set for ourselves. While roads and public transportation comprise most of the spend, we see opportunities for our vertical take-off expertise in aviation, environmental assessment and permitting, and power and utility infrastructure design. Like other firms in our business, we're looking at the White House documents that detail the infrastructure spend on a state-by-state basis. When looking at total spend (as distinct from per capita spend), PS&S has an established presence in six of the top 10 states earmarked for the most funding. For us those states are – in descending order of dollar spend -- are Texas, New York, Florida, Pennsylvania, New Jersey and North Carolina. When you look at these documents, you will be struck by the opportunity for our industry, as well as the wide range of projects and the enormity of the scope. Pothole-free roads, beautiful new bridges, EV charging stations and high-speed internet access everywhere you go, and air taxis to take you to the airport. And that brings me to my earlier point – many firms and disciplines will be needed to do all this and thus I believe the infrastructure bill will usher in a new wave of alliances, partnerships and cooperation in our industry. Exciting times indeed. At PS&S, we’re ready and I am sure many of our friends and associates are too. Sincerely, John Sartor, PE |
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