Available to Create Nearly 1.5 Million Jobs Over $180 bn of Dedicated Funds can be Leveraged to a Value of $450 bn
WASHINGTON, Oct. 5 /PRNewswire/ -- Nearly 1.5 million jobs in the United States could be created through government and the private sector collaborating on Public Private Partnerships.
An updated report released today, "Benefit of Private Investment in Infrastructure," outlines how the Administration could grow the 377,000 projected stimulus jobs to come from government investment in infrastructure to 1.5 million jobs by combining public and private investment.
On Saturday, October 3(rd), during his weekly radio address, President Obama said, "I'm working closely with my economic team to explore additional options to promote job creation. And I won't let up until those who seek jobs can find them."
If government investment is teamed with private investment, the approximate $180 billion of dedicated capital currently available for global infrastructure projects can create up to $450 billion for investment in the U.S. infrastructure market.
This would create 1.5 million jobs in infrastructure alone, which could create jobs for 10 percent of those currently without employment. The benefits of private investment must be considered to work along side stimulus programs already underway.
"Public-private partnerships (P3s) are about leasing assets to maximize taxpayer value while government retains ownership of the asset. Among other state and local governments, the State of Indiana and the City of Chicago have successfully demonstrated how to achieve value and accelerate job growth through bipartisan P3 solutions," said Rob Collins, Head of Infrastructure Banking for the Americas, Greenhill & Co.
"Private capital sits ready to be the second stimulus creating nearly 1.5 million jobs," said Jim Courtovich, Managing Partner of Kearsarge Global Advisors. "First, political leaders have to make the decision to be competitive for this $180 billion of private capital, and once that is done, there are many ways to deploy these dollars."
A downloadable version of the report will is available at http://tinyurl.com/czbrrl.
The report, "Benefits of Private Investment in Infrastructure," was created by Kearsarge Global Advisors in coordination with Abertis, Barclays Capital, Carlyle Infrastructure Partners, Chadbourne & Parke LLP, Citi Infrastructure Investors (CII), Credit Suisse, Debevoise & Plimpton, Freshfields Bruckhaus Deringer, Fulbright & Jaworski, Greenhill & Co., Mayer Brown, McKenna Long & Aldridge LLP, Merrill Lynch, Morgan Stanley, RBC Capital Markets, Scotia Capital, and UBS.
SOURCE Kearsarge Global Advisors
