Infrastructure Spending Study
I wanted to share with you a timely study that examines the impact of various infrastructure spending scenarios, which builds on the work of the ACEC Research Institute in its 2021-2025 Engineering Industry Forecast. This latest study outlines the impact to our industry of the President’s Jobs plan, the initial Republican counteroffer, and then compared those to the framework of the bipartisan Senate proposal announced last week.
In short, the ACEC study estimates that the $1.2 trillion bipartisan agreement would create more than 82,000 full and part-time jobs in engineering and design services industries, generate $62 billion in A/E industry wages and add $75 billion to GDP. Overall, the proposal would lead to a 6% average annual increase in engineering and design services sector activity over the next six years, pushing annual output from $352 billion in 2021 to $416 billion by 2026.
The timing of this work couldn’t better, as it speaks directly to framework that will be guiding the Administration and Congress in the coming weeks. Let me know if you have any questions.