A report released by AECOM describes the consequences of continued underfunding of U.S. infrastructure as “dire, affecting the United States’ global standing as a leader in economic growth, productivity, competitiveness, capital inflow, job creation, sustainability, and lifestyle”—and proposes public-private partnerships as a timely and practical solution.

The report, U.S. Infrastructure: Ignore the Need or Retake the Lead?, emphasizes “the determination, creativity, and innovativeness of public and private institutions to fund and finance the necessary investments. Each day that passes without substantial commitments to U.S. infrastructure development merely postpones the inevitable, multiplies the expense, and increases the likelihood of an intractable public works crisis that will last for generations.”

In addition to citing the obvious problems with underinvestment—such as lost productivity and increased greenhouse gas emissions, both caused by traffic congestion—the report illustrates how infrastructure spending can serve as an engine for putting people to work and maintaining economic growth.

Although the U.S. economic situation remains uncertain, AECOM stresses that federal, state, and local “infrastructure spending provides taxpayers substantial return on their investment over the long term in the form of jobs, economic growth, improved productivity, enhanced mobility, a better environment, and the safe and ample supply of public services.”

The report is available here.