December 21, 2015 | By CGLR |
Using Alternative Procurement and Financing Models to Capitalize on the ‘Infrastructure Moment’ in the Great Lakes and St. Lawrence Region
This paper identifies and analyzes existing and emerging models of alternative financing for infrastructure in the Great Lakes and St. Lawrence Region, particularly in partnership with the private sector, and explores opportunities for cross-border collaboration on infrastructure renewal.
The Great Lakes and St. Lawrence Region (GLSLR) has an immediate need for major new investments in infrastructure renewal. These investments would support a new era of prosperous and sustainable metropolitan areas in the region.
There is significant potential for cross-border collaboration due to the integrated nature of the region and the potential for states and provinces to learn from one another and plan together around energy and transportation. The renewed interest in more collaborative regional work amongst Governors and Premiers reinforces the need to examine how alternative financing can be mobilized to deliver inter-jurisdictional infrastructure projects and finance infrastructure renewal in the region.
The jurisdictions of the GLSLR have increasingly shared interests as part of a post-rust-belt region competing globally with other economic regions. The GLSLR has a compelling value proposition for investment attraction — and the business case for investing in the GLSLR would be more compelling still with modernized, sustainable, technologically-enabled infrastructure. This report concludes that there is value in mobilizing alternative financing mechanisms in the GLSLR to respond to the need for infrastructure renewal and that closer cross-border collaboration is part of the solution to the challenges facing jurisdictions within the region.
To overcome these obstacles, the report concludes with a series of recommendations that are designed to facilitate greater alignment of processes and learning across the region, as well as to position the region as a centre of excellence in deploying innovative financing tools and by modelling best practices and agreements. These recommendations include:
- The establishment of a Great Lakes and St. Lawrence Region Infrastructure Exchange
- A move toward standardization of innovative procurement models across the GLSLR
- More integrated planning and priority-setting across the region
- The certification of socially-responsible investing and other classes of investments