Recent Trends in Infrastructure Investment and Capacity in New England
Abstract: Households and businesses throughout New England rely on roads, bridges, dams, sewers, drinking water systems, and other elements of public infrastructure daily. However, the region’s states and municipalities have long been acknowledged as spending less than much of the rest of country on these public capital assets. The Infrastructure Investment and Jobs Act of 2021 (IIJA) represents a massive and historic opportunity that will fund billions of dollars’ worth of repairs and improvements to public infrastructure across the region. The $1.2 trillion package contains $550 billion in new federal spending on public transit, broadband access, roads and bridges, water treatment, and the power grid. Notwithstanding these appropriations, state and local capital investments remain an important component of maintaining the public capital stock. This brief describes how elements of the IIJA will affect infrastructure in the region, discusses how new federal spending will fill the existing gap between infrastructure needs and spending, and reviews current state and local capital expenditures in the New England states.
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Provider: Federal Reserve Bank of Boston
Part of Series: New England Public Policy Center Regional Brief
Publication Date: 2022-11-29