The U.S. Conference of Mayors Applauds Chicago Mayor Rahm Emanuel's Focus on Innovative Infrastructure Investment

WASHINGTON, July 20, 2012 /PRNewswire-USNewswire/ -- Earlier today, Chicago Mayor and The U.S. Conference of Mayors (USCM) member Rahm Emanuel traveled to our nation's capital to discuss both the connection between job-creation and critical infrastructure investment, and innovative ways urban centers across the country can support this infrastructure investment in times of decreasing public spending and economic hardship. The Mayor specifically highlighted the Chicago Infrastructure Trust, the first public-private financing model for infrastructure investments in the country.

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"We support the Emanuel Administration's emphasis on investing in Chicago's urban infrastructure as well as looking outside the box to leverage private financing for these critical projects," said USCM President Philadelphia Mayor Michael Nutter. "In this era of tight budgets, mayors across the country are looking for new ways to keep their urban infrastructure from crumbling through smart and strategic investments that increase economic growth and job creation as well as keep cities modern."

A new report released just yesterday by USCM shows that while the nation's cities and their metro areas continue to make steady progress toward economic recovery, failure to dramatically increase investment in infrastructure, particularly transportation infrastructure, could cause increasing costs to families, commuters and businesses.

The report forecasts that by the end of 2012, 300 of the nation's 363 metro areas will experience real economic growth (gross metro product), and predicts that over the remainder of the year the nation's economy will see 1.4 percent increase in employment and a real GDP growth of 2.0 percent. Prepared by IHS Global Insight, the report also projects that household budgets will receive a boost from falling gas prices that are expected to decline to $3.11/gallon by the fall.

To view the full report, please visit: http://usmayors.org/

The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are 1,295 such cities in the country today, and each city is represented in the Conference by its chief elected official, the mayor. Like us on Facebook at facebook.com/usmayors, or follow us on Twitter at twitter.com/usmayors.

SOURCE The U.S. Conference of Mayors