Investing in infrastructure is one of the key ingredients for economic prosperity, according to nationally known author and lecturer Joel Kotkin.
Speaking at the PHIA infrastructure financing conference on Feb. 12, Mr. Kotkin said building highways, airports, seaports, libraries and mass transit systems provides a much greater return than sports stadiums, convention centers and other "symbolic" projects.
U.S. investment in infrastructure as a proportion of Gross Domestic Product has declined since the 1970s, he noted, while the population has continued to grow. America is in danger of ceding one of its traditional competitive advantages to countries who are making major infrastructure investments.
Pennsylvania, specifically, should take advantage of growth opportunities in smaller towns and suburbs, but that would require better transportation links to larger cities, Mr. Kotkin said. The key, he said, is for cities to focus "not on luring the middle class, but on creating one."
Despite the onset of a winter storm, the conference drew an overflow crowd of 160 participants and featured state and local policy experts. PHIA Managing Director Jason Wagner said the organization will continue to educate the public on the economic benefits of a well-funded highway system.
For additional information regarding Mr. Kotkin's views on economic and social issues, visit www.joelkotkin.com.
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