Investing in infrastructure is critically important, not only to maintain safe and reliable roads, public transit, water mains and sewer lines, but also to expand the economy. Infrastructure is literally the backbone that supports thriving communities and companies.
The Chicago metropolitan region has come together to prioritize several urgent infrastructure improvements. Economic growth hinges on capital investments in Chicago’s Union Station, which serves 120,000 daily passengers and needs to be able to handle more. Growth depends on the pipes under our streets carrying—and not leaking—clean water to serve the 74 percent of Illinois' population living in greater Chicago. Many suburbs are seeking financing for new developments to improve retail, reduce traffic and commute times, and attract new businesses.
Repairs and new capital investments—it’s not an “either-or” proposition. Pursuing both aggressively and with transparency is the ticket to economic growth.
New types of financing and project delivery methods can open up opportunities. From city and state transportation agencies to hundreds of municipalities, governments across the country are working to identify new, better and faster ways to deliver infrastructure projects to serve residents. The playing field is far from level—while some governments have the expertise to wade into new and complex financial transactions, many others are fiscally stressed and/or are still getting up to speed.
MPC is helping Chicago-area decision makers fundamentally rethink how to invest in infrastructure, deploy new financing tools when appropriate and stay committed as a region to priority investments and plans that will put us back on the path to growth.
MPC has studied the use of innovative financing tools on a number of regional projects, from Chicago Union Station to implementing projects identified in Chicago Metropolitan Agency for Planning's Metropolitan Transportation Plans.
Regional infrastructure investment
MPC is exploring how existing state and regional governments can work together more seamlessly to advance GO TO 2040, World Business Chicago's Plan for Economic Growth and Jobs and local development plans. Our goal is to identify new, better and faster ways to deliver infrastructure solutions in this region—and ultimately create a replicable standard for project delivery across the U.S.