The U.S. $1.2 Trillion Investment
The U.S. is positioning itself to massively increase its strength as a competitor in a whole swath of areas, and that creates opportunities for Canadians.
In November 2021, US President Joe Biden signed a bipartisan infrastructure deal that aims to inject $1.2 Trillion into the U.S. economy. The plan is aimed at repairing damaged U.S. infrastructure that has been ignored for decades.
What does this mean for Canada?
With the current plan, the U.S. has many projects that already include Canada. For example, Amtrak is proposing an extension of its existing Wolverine service — which connects Chicago and Detroit — over the border through Windsor and southwestern Ontario into Toronto. This is not just good for travelers and the economy but this also creates new opportunities (bids, contracts, jobs) in the infrastructure/utility sector. With talks of maintaining, repairing and building new infrastructure, companies in the infrastructure sphere will have fresh opportunities to grow.
The potential for cross-border contracts is also a real possibility. One example is how Canada can build border facilities on U.S. soil to allow easing the flow of travellers and reducing wait times. Coupling this investment with the already existing investment of $118 billion dollars, we could see a large spike in demand for infrastructure related services in Canada. This spending also has the potential to create healthy competition between the Canadian government and the US government. We could see the Canadian government ratcheting-up its infrastructure with even more spending to stay competitive against the US.
Its not a done deal
There is still uncertainty in regards to what this could mean for Canadians, however it may be a step in the right direction in terms of creating more jobs for the economy and opportunities for infrastructure/utility firms.
CUTI’s View
The prospect of the U.S. infrastructure investment tricking into Canada is exciting news for all Canadians who are either already in the infrastructure field or wishing to join. This will provide even more opportunities for Canadians whether it be domestically or across the border. Canada has some of the most stringent infrastructure standards in the world, so it might not be surprising if some U.S. companies and governments extend contracts to Canadian firms and workers. We will be following this development closely and provide any new updates as they arise!
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