Infrastructure = jobs

It's always nice when the number crunchers help us make our point. A new study by Santa Monica, Calif.-based think tank the Milken Institute makes a compelling case for massive infrastructure investment, and more importantly, the connection between investment and jobs. The study, entitled "Jobs for America: Investments and Policies for Economic Growth and Competitiveness," says that U.S. infrastructure, once the envy of the world, is now strained and aging. Modernizing in multiple areas represents an opportunity to create thousands of jobs and jump-start the economy in the near term. The study analyzes the potential effects of 10 different infrastructure projects: highway and transit projects; broadband; offshore drilling and onshore exploration and development of oil and natural gas resources; drinking water and wastewater infrastructure; the smart grid; nuclear energy; renewable energy; the NextGen air-traffic control system; inland waterways; and clean coal. For every $1 billion invested in these projects, slightly more than 25,000 jobs are created, according to the study. The conclusion, the study says, is that "all the projects combined will create 3.4 million construction- and R&D-related jobs, which will generate an estimated $147 billion in earnings. Accounting for ripple effects across other sectors, the total impact will add up to 10.7 million jobs, $420.6 billion in earnings and $1.4 trillion in output." -- Mark S. Kuhar