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    Home»Infrastructure»Our Infrastructure Journey
    Infrastructure

    Our Infrastructure Journey

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    If you have followed this column for any length of time, then you know rebuilding our nation’s infrastructure is a huge undertaking for a lot of people. I have spent a lot of time talking about what is required to achieve these lofty objectives and it’s even far to say it’s a top priority of mine. Our infrastructure can include everything from roads and bridges to our nation’s cybersecurity to ensure critical infrastructure isn’t under attack. Today, let’s take a closer look at how our infrastructure is fairing in 2023.

    But, first, let’s look back to look forward, as I always like to do. Journey back with me for a minute to March 2021 when the ASCE (American Society of Civil Engineers) released its 2021 Infrastructure Report Card. Released every four years, 2021 saw the first time our overall infrastructure GPA was out of the D range. Achieving a C- in early 2021 was certainly progress, but candidly I don’t want to be driving on bridges and using other critical infrastructure that is getting the grade of a C-. There is still much work to be done.

    And it seems that is in fact what came next. In November 2021, we saw the passing of the IIJA (Infrastructure Investment and Jobs Act), which aimed to grow the American economy while rebuilding infrastructure, creating an innovation boom, and building a clean-energy economy. At least, that was the objective.

    Today let’s take a closer look at infrastructure sentiment in the United States—to better gauge the type of progress we have actually made in the past two years.

    The RICS (Royal Institution of Chartered Surveyors) and the AACE (Assn. for the Advancement of Cost Engineering) Commercial Property Monitor Q2 2023 for the United States shows that general sentiment has improved despite wider uncertainties.

    Survey participants indicate the construction workloads are picking up, rising from +45% to 48% in Q2 2023. The energy and transport subsectors are the greatest. Interestingly, the Q1 survey identified feedback during fears of a potential full-blown banking crisis that appears to have subsided in Q2. We really do live in crazy times. Even still, just less than half still identified financial constraints as a headwind to activity today.

    Naturally, one of the biggest challenges the construction industry faces as infrastructure work continues to pick up is the lack of skilled workforce needed to ensure projects are completed. I can’t stress this enough. The good news is this survey shows some progress being made in this area as well.

    The Q2 headcount net balance reading came in at +22% compared with +18% in Q1 and +11% in the final quarter of 2022. Forward-looking hiring statistics look positive; however, labor and skills shortages continue to hamper construction activity, and recruitment will need to increase pace to meet the ambitious and demanding workloads, according to the survey. The first thing that comes to my mind is safety, but we can engage in that discussion in another blog.

    Looking to the future, the survey suggests the outlook for infrastructure sentiment is encouraging. New business enquiries inched up from +19% to +25% while workload expectations in the next 12 months also showed an upbeat message. The 12 months expectations when measured in net balance terms is still modestly in positive territory (+13% compared with +10% previously). However, the data shows participants continue to warrant a note of caution.

    I will certainly be curious to see what the ASCE Infrastructure Report Card has to say in 2025. Much has changed and much has stayed the same, so it will be interesting to see how much progress we have made, reflected on a very important and even revealing new report card. Time will tell all the progress we are truly making across the country in 2025.

    Want to tweet about this article? Use hashtags #construction #IoT #sustainability #AI #5G #cloud #edge #futureofwork #infrastructure 

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    2025 ASCE REPORT CARD FOR AMERICA’S INFRASTRUCTURE
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