November 9, 2024

Rise To Thrive

Investing guide, latest news & videos!

White House touts infrastructure projects, private investment

2 min read
White House touts infrastructure projects, private investment

The White House Tuesday launched a website that maps and tracks infrastructure projects and private investment to highlight the impact of laws enacted by the administration over the last three years.

The website, Invest.gov, maps thousands of public infrastructure projects and private manufacturing investments spurred by the American Rescue Plan Act, the Bipartisan Infrastructure Law, the Inflation Reduction Act and the CHIPS and Science Act.

More than $220 billion in federal money has been allocated from the BIL and other laws, according to the administration. Private investment in manufacturing, including high-tech sectors like electric vehicles, computer chips and clean energy, totals $479 billion over the last three years.

The website breaks public money down by discretionary and formula grants and allows for a national and state-by-state analysis of infrastructure projects. It includes summaries like the number of jobs created and will be updated as more money is invested.

“It’s the first time I have seen in one view the ability to look at both the public sector projects that we’re making possible with the infrastructure law or the American Rescue Plan or the Inflation Reduction Act or some of those direct investments and also the private investments that they’re helping to unlock,” Transportation Secretary Pete Buttigieg told MSNBC in an interview Tuesday.

“This is about showing ways that the American people can access transparently how that money is moving, and more importantly than the big numbers, those dots on the map giving you a sense of what this means wherever you live in the United States.”

Illinois, for example, has seen $9 billion in public infrastructure investment under the Biden administration, according to the website, including $6.5 billion that’s gone toward transportation and $1.3 billion for climate change and other threats. Private companies have announced $1 billion in investments in the state, according to the website.

The site is part of Biden’s effort to tout infrastructure and climate policies as he seeks re-election in 2024.

The administration is also planning a second “Investing in America” tour that will be held during the two-week Congressional recess around the July 4 holiday. Top administration officials will highlight infrastructure projects around the country.