Trump’s infrastructure talk hits home with clear needs in Texas

No one can deny that Texas is booming. In a state famous for always going big, our economy and our population are surging.

At $1.6 trillion in GDP, Texas ranks as the nation’s second-largest economy and clocks in at No. 9 globally, ahead of South Korea, Canada and Russia.

According to Forbes, the state saw the third-fastest job growth rate nationally over the past five years and was second-fastest in overall economic growth.

We are home to 109 of the 1,000 largest companies in America, and we still have room to expand.

Not surprisingly, this success has coincided with record population: Since 2000, the state has grown more than 30 percent, and since 1990 Dallas has swelled by the same percentage, according to U.S. Census figures.

Five of the nation’s 11 fastest-growing cities are in Texas. It is part of a steady migration to the Southwest, and it shows no signs of abating.

In fact, 14 of the 15 fastest-growing American cities are in our region.

All of this growth has also taken a toll.

In his first address to a joint session of Congress, President Trump said one of his administration’s top domestic priorities will be a significant investment in our nation’s aging infrastructure, vowing a $1 trillion nationwide program mixing private and public funding.

We in Texas see that need very clearly on a local level.

As more employers and families choose Texas for jobs, many of our schools have not been able to keep up with demand.

Students at several Dallas-Fort Worth area school districts have been forced to learn in temporary structures as capacity at many schools exceeds 100 percent.

Even planned construction has been unable to catch up with rising enrollment in many cases.

Recent and proposed bond elections will help, but more will likely need to be done.

Currently, more than one-third of all debt issued in the state is for school construction, and yet there is no indication that demand will let up because of the popularity and desirability of our region.

Without high-quality schools, we simply cannot retain the talent and attract the investment that we need to remain globally competitive.

When a major corporation decides to locate here, its executives and workers want to know their kids have the best options possible.

Across the nation, these and similar priorities often go unmet because of understandable reluctance by taxpayers and local governments to borrow or otherwise raise the money needed to meet new infrastructure needs.

Nevertheless, we have no choice if we want our economy to stay on the path of growth and create the kinds of opportunities we owe our children.

It is not just schools. Our roads, our airports, our bridges, our water systems are all approaching or have exceeded their limits.

In its most recent report card, the American Society of Civil Engineers gave Texas’ roads a D grade, while rating its aviation capacity a C+ and giving a D- to its water infrastructure.

The ASCE estimates Texas has $34 billion in infrastructure needs for water systems over the next 20 years and $12.6 billion in school needs.

As we await more specific details from the Trump administration in regards to its long-range infrastructure plans, we ought to consider what creative budgeting and planning solutions we can explore.

Public-Private Partnerships have proved effective in the past, and the federal government can play a role in clearing some of the legal and regulatory hurdles that have limited our ability to fully realize their potential.

When it comes to school construction, restrictions on debt financing can be eased to get projects up and running quicker.

For utility infrastructure, including water and power grids, other states have used securitized or rate reduction bonds, which increase ratings and lower the cost of borrowing.

Infrastructure investment doesn’t just help meet basic needs. It is a force multiplier, improving economic efficiency and bringing in new private capital.

Just look at one Texas-sized example in our own back yard: AllianceTexas, the 18,000-acre economic behemoth made possible by smart and timely investments in road, rail, airport and industrial infrastructure.

Alliance is the top foreign trade zone in the entire U.S., bringing in more than $4 billion in imported goods annually and employing 35,000 people at major companies like FedEx, which lands planes at its cargo airport, and AT&T, which runs the world’s largest iPhone fulfillment hub.

Shipping is only going to grow in importance, as our consumer economy moves online and everything we buy comes on a truck, train, boat or plane.

We must create the infrastructure that supports that kind of mobility and literally paves the way for the future of our economy.

This story was originally published May 1, 2017 at 5:52 PM with the headline "Trump’s infrastructure talk hits home with clear needs in Texas."