Experts agree on need for cooperation, priority-setting and end to politics as usual

WASHINGTON, D.C., March 18, 2009 – If the United States is to build the infrastructure it truly needs for the 21st Century, then new approaches are needed, experts from business, trade associations, labor and the academic world, together with current and former policymakers, recently agreed.

Gathered at the Rebuilding America’s Infrastructure for Global Competitiveness, conference hosted by Iona College and sponsored by Terex Corporation, such experts explained that the nation needs to re-think the way it plans and invests in infrastructure initiatives, putting politics aside and making “smart” choices that will benefit the nation’s economic well being for the long run.

“Our infrastructure is deteriorating faster than we can keep up with it, let alone dealing with new capacity, and it is seldom tailored to the challenges of today,” said U.S. Rep. Earl Blumenauer of Oregon. “While problems get more acute, too many politicians will focus on what they don’t want to do and what they’re against, as opposed to what they can do, what they should do and what they will do, and then proceed with programs as they have done for 10 or 20 or 50 years or more.  We no longer have that luxury.  Luckily, I think there is a perfect storm that is aligning for solutions.”

Andrew Herrmann, Chairman of the American Society of Civil Engineers’ 2009 Report Card on America’s Infrastructure, estimates that $2.2 trillion will be needed over five years to bring the nation’s infrastructure “back to a good condition.”  He echoed a recurrent theme of the conference saying, “This year’s economic stimulus package, the American Recovery and Reinvestment Act, basically included about $100 billion for infrastructure. And it was an important first step in improving the nation’s infrastructure. While this is a substantial amount, the amount invested should only be seen as a down payment on the sustained investment needed for our infrastructure.”

Keynote speaker Gerard Mooney, General Manager of Global Government and Education at IBM, commented that our country has the opportunity to build infrastructure for the future. “I totally believe that the technology is ready to deploy. It’s really about shifting and starting to meld the digital with the physical infrastructure and coming up with new systems. And what that means is that the associations and the people who are responsible for either funding this type of infrastructure, or building it, or advising on it, or planning it, they now have to start thinking about what are the other disciplines we need to bring into the dialogue.”

In a panel hosted by Wall Street Journal international energy reporter Neil King, former Secretary of the U.S. Departments of Transportation and Energy Federico Peña said, “I think most Americans now believe we have no choice but to make a radical change in the way in which we use energy and to be much more energy efficient.” In discussing the challenges of surface transportation, Pete Ruane, President of the American Road and Transportation Builders Association said, “This is going to be a long uphill struggle and we invite the support of not only all the attendees at this conference, but all the organizations that are involved in this because without a concerted effort from all of us, we will not win this.”

Other speakers included President of the National Association of Manufacturers and former Michigan Governor John Engler, Executive Director of the AFL-CIO Industrial Union Council Robert Baugh, former U.S. DOT Deputy Secretary Mort Downey, Brookings Institute Fellow Robert Puentes and America 2050 Director Petra Todorovich.

Those interested in learning more about the conference may see the presentations and full conference transcript at www.Infrastructure2009.com.

Sponsors of the conference included the American Road and Transportation Builders Association, American Society of Civil Engineers, Association of Equipment Manufacturers, TBS Shipping, U.S. Chamber of Commerce and The Washington Times.

About Iona College: 

Founded in 1940 by the Congregation of Edmund Rice Christian Brothers, Iona College is a private, coeducational institution of learning in the tradition of American Catholic higher education. Iona, currently listed in the US News and World Report’s annual “America’s Best Colleges 2008” and The Princeton Review’s Best Northeastern Colleges 2008 edition, offers undergraduate degrees in liberal arts, science, and business administration, as well as Master of Arts, Master of Science and master of business administration degrees and numerous post-graduate certificate programs.

About Terex:

Terex Corporation (NYSE: TEX) is a diversified global manufacturer that operates in four business segments: Aerial Work Platforms, Construction, Cranes, and Materials Processing & Mining.  Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining, and utility industries.  Terex offers a complete line of financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services.