Are those booming construction sounds getting on your nerves, or are they music to your ears, helping New York get up and running post-pandemic? Some may answer “Yes” to the first while others answer “Yes” to the latter. But we should welcome these sounds, because without them, we’d all be in trouble.
The reason for this is that some of our crucial infrastructure was built more than a century ago and much of it is in disrepair. Some needs to be replaced immediately. It’s going to cost a bundle, but when all is said and done, vital but outdated systems will be replaced by ones that are more reliable and efficient.
Vital But Costly
Investopedia defines infrastructure as “the physical systems of a region or nation.” They are expensive to build and vital to a country’s economic development and prosperity. Generally, the term refers to things like roads and rails, bridges and tunnels, and the grid and water systems.
In the 1900s, America’s infrastructure was ultra-modern and the envy of the world, but today it no longer is. Countries once considered not especially advanced now have skyscrapers that reach much higher than anything in America and boast amazing airports and highways.
There is no denying that US infrastructure is deteriorating. In its most recent Infrastructure Report Card, the American Society of Civil Engineers gave the US a grade of “D+”, noting that roads are crumbling, bridges aging, and water mains are breaking regularly. The World Economic Forum ranks the US 13th in infrastructure, behind countries such as Singapore, Japan, South Korea, France, and the UK.
According to the Economic Collapse Blog, “America is literally falling apart all around us,” and if this sounds like an exaggeration, here are just two examples of why it is not.
Of the roughly 600,000 bridges across the US, 220,000 – more than a third – have been classified “strategically deficient,” which means they need either repair or replacement.
In 2022, there were 1,164 train derailments around the country, on average about three a day, based on data provided by the Federal Railroad Administration.
US Airports, on average, are about 40 years old, and they too need maintenance, repairs, and improvements. Separately, some railroad accidents, bridge collapses, and highway cave-ins have been attributed to infrastructure issues.
US rails lag behind Europe’s. The US has only one high-speed train that can travel at 150 MPH, and it maintains that speed only briefly. By the end of the year, more bullet trains will be in service. But in Europe, the fastest trains are still faster. They race ahead at up to 190 MPH. There are many of them, and some have been in service for years.
In The City’s Future…
There are always major projects being developed in New York, and even in the current atmosphere a lot of construction is underway. The price tags on these range from several hundred million dollars to far in excess of ten billion. Some are multi-year megaprojects.
According to the New York Building Congress (NYBC), three infrastructure projects crucial to the city’s future are the $30 billion rail Gateway Program, the multi-billion-dollar Interborough Express transit project, and the multi-billion-dollar redevelopment of the Brooklyn-Queens Expressway.
“When completed, (these) will generate over $3 trillion in annual economic output and serve 17% of the US population,” Bloomberg reports. They will also “service millions of commuters and create hundreds of thousands of jobs.” None of these, however, will be completed any time soon; work is expected to last until 2032.
But these are by no means the only important projects under construction. Other major projects also are in various stages of development. The NYBC says the following, in particular, need to be completed:
*The Interborough Express, which will cost $10 billion;
*Phase 2 of the Second Avenue Subway, which will have a price tag of $6.3 billion; and
*Modernizing and upgrading Penn Station, which will amount of $7 billion.
In addition, the Port Authority Bus Terminal needs to be replaced, and the tab for this one is expected to be in the $7-$10 billion range. And another project said to be “most critical” to both local infrastructure and the nation as a whole is the Gateway Program, a rail line that will link Newark and Penn Station.
Making Needed Changes
According to the White House, Pres. Biden’s Bipartisan Infrastructure Deal will help “rebuild America’s roads, bridges and rails, expand availability of clear drinking water, ensure every American has access to high-speed internet, tackle the climate crisis… and invest in communities that have too often been left behind.” This law was passed in November 2021.
Initially the cost of this bipartisan bill was estimated at $1 billion, but the final cost could be $3 trillion. Cities and states across the country will get desperately needed assistance to improve their infrastructure. However, even this higher estimate will not come close to solving America’s infrastructure needs.
Here in New York, many of our subway systems date back to the early 1900s – some to the 1800s. Considering the pounding the subway system takes each day, how long until they will have to be replaced?
The same question could be asked about crucial bridges and tunnels in the city. The George Washington Bridge, for example, was opened in 1883 and it is absolutely vital to the city. Other essential bridges and tunnels were never intended to handle the countless vehicles that use them each day.
Can you imagine what would happen if the city suddenly had to replace any of its major bridges, subway lines or tunnels that so many of us use daily? How long would that take? Where would the money come from? How would we all manage in the interim?
The billions being spent on infrastructure are a good start to dealing with the problem but it’s only that – a start. And in the interim other vital structures are aging and getting closer to needing expensive maintenance, repairs, or replacement.
A great deal has been said about infrastructure in recent years, and you can be sure we’ll all be hearing a lot more going forward.
Sources: www.airportsindia.org.in; www.bloomberg.com; www.constructiondive.com; www.investopedia.com; www.mercatus.org; www.theeconomiiccollapseblog.com; www.theguardian.com; www.whitehouse.gov; YouTube: CNBC Television
Gerald Harris is a financial and feature writer. Gerald can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it.
