Contact Information: Contacts: Media Elissa Dodge Qorvis Communications Phone: 202-683-3152 Email: edodge@qorvis.com Mike Bazinet Terex Corporate Communications Phone: 203-222-6113 Email: michael.bazinet@terex.com
Vision, Planning, Leadership Needed to Build New U.S. Infrastructure
Experts Agree on Need for Cooperation, Priority-Setting and End to Politics as Usual
| Source: Terex Corporation and Iona College
WASHINGTON, DC--(Marketwire - March 18, 2009) - If the United States is to build the
infrastructure it truly needs for the 21st Century, then new approaches are
needed, experts from business, trade associations, labor and the academic
world, together with current and former policymakers, recently agreed.
Gathered at the Rebuilding America's Infrastructure for Global
Competitiveness, conference hosted by Iona College and sponsored by Terex
Corporation, such experts explained that the nation needs to re-think the
way it plans and invests in infrastructure initiatives, putting politics
aside and making "smart" choices that will benefit the nation's economic
well being for the long run.
"Our infrastructure is deteriorating faster than we can keep up with it,
let alone dealing with new capacity, and it is seldom tailored to the
challenges of today," said U.S. Rep. Earl Blumenauer of Oregon. "While
problems get more acute, too many politicians will focus on what they don't
want to do and what they're against, as opposed to what they can do, what
they should do and what they will do, and then proceed with programs as
they have done for 10 or 20 or 50 years or more. We no longer have that
luxury. Luckily, I think there is a perfect storm that is aligning for
solutions."
Andrew Herrmann, Chairman of the American Society of Civil Engineers' 2009
Report Card on America's Infrastructure, estimates that $2.2 trillion will
be needed over five years to bring the nation's infrastructure "back to a
good condition." He echoed a recurrent theme of the conference saying,
"This year's economic stimulus package, the American Recovery and
Reinvestment Act, basically included about $100 billion for infrastructure.
And it was an important first step in improving the nation's
infrastructure. While this is a substantial amount, the amount invested
should only be seen as a down payment on the sustained investment needed
for our infrastructure."
Keynote speaker Gerard Mooney, General Manager of Global Government and
Education at IBM, commented that our country has the opportunity to build
infrastructure for the future. "I totally believe that the technology is
ready to deploy. It's really about shifting and starting to meld the
digital with the physical infrastructure and coming up with new systems.
And what that means is that the associations and the people who are
responsible for either funding this type of infrastructure, or building it,
or advising on it, or planning it, they now have to start thinking about
what are the other disciplines we need to bring into the dialogue."
In a panel hosted by Wall Street Journal international energy reporter Neil
King, former Secretary of the U.S. Departments of Transportation and Energy
Federico Peña said, "I think most Americans now believe we have no choice
but to make a radical change in the way in which we use energy and to be
much more energy efficient." In discussing the challenges of surface
transportation, Pete Ruane, President of the American Road and
Transportation Builders Association said, "This is going to be a long
uphill struggle and we invite the support of not only all the attendees at
this conference, but all the organizations that are involved in this
because without a concerted effort from all of us, we will not win this."
Other speakers included President of the National Association of
Manufacturers and former Michigan Governor John Engler, Executive Director
of the AFL-CIO Industrial Union Council Robert Baugh, former U.S. DOT
Deputy Secretary Mort Downey, Brookings Institute Fellow Robert Puentes and
America 2050 Director Petra Todorovich.
Those interested in learning more about the conference may see the
presentations and full conference transcript at www.Infrastructure2009.com.
Sponsors of the conference included the American Road and Transportation
Builders Association, American Society of Civil Engineers, Association of
Equipment Manufacturers, TBS Shipping, U.S. Chamber of Commerce and The
Washington Times.
About Iona College:
Founded in 1940 by the Congregation of Edmund Rice Christian Brothers, Iona
College is a private, coeducational institution of learning in the
tradition of American Catholic higher education. Iona, currently listed in
the US News and World Report's annual "America's Best Colleges 2008" and
The Princeton Review's Best Northeastern Colleges 2008 edition, offers
undergraduate degrees in liberal arts, science, and business
administration, as well as master of arts, master of science and master of
business administration degrees and numerous post-graduate certificate
programs.
About Terex:
Terex Corporation is a diversified global manufacturer that operates in
four business segments: Aerial Work Platforms, Construction, Cranes, and
Materials Processing & Mining. Terex manufactures a broad range of
equipment for use in various industries, including the construction,
infrastructure, quarrying, surface mining, shipping, transportation,
refining, and utility industries. Terex offers a complete line of
financial products and services to assist in the acquisition of Terex
equipment through Terex Financial Services.