Infrastructure is the physical network all around us made of roads, rails, water systems, ports, airports, schools, Internet access and more. It’s no stretch to call it the backbone of the economy.
But it could be the state’s biggest problem because California just doesn’t have the money need to invest, even to maintain what we’ve already got. The state can’t borrow its way out of this problem: It’s too big. Instead, leaders in the state say we must adopt a smarter approach: California requires a new infrastructure strategy that will support the state’s long-term economic growth—one that includes new ways of financing public works projects.
Infrastructure is a signature initiative of the California Economic Summit. The discussion at this year’s gathering in November included talking about how to convince Californians that investment is needed now.