Permitting Delays Harm Infrastructure Investment, Development
As the U.S. Chamber of Commerce (USCC) has pointed out, it takes too long to build things in the United States. It takes developers, on average, 7.7 years to get a federal permit to build a new airport, for example. Projects to address critical needs for transportation, energy, water, broadband, and other priorities find themselves stuck in process and legal delays caused by the U.S.’s outdated permitting system, a problem that threatens the country’s economy and diminishes its global competitiveness.
Federal lawmakers have made unprecedented investments to incentivize the development of U.S. infrastructure, but these projects are hampered by the outdated permitting process — keeping those investments on the sidelines and impeding necessary improvements. Everything from highways to renewable energy, pipelines to mining, and broadband to chip manufacturing are being impacted.
As Connecting the Dotsreported earlier this spring, MSCI is working with the USCC to advocate for permitting process reform. MSCI signed onto a letter with the USCC that is available here that called for reforms to the federal process for permitting infrastructure projects.
That letter asked that Congress ensure:
- Project developers and financiers have an appropriate level of certainty regarding the scope and timeline for project reviews, including any related judicial review;
- Interagency coordination optimizes public and private resources while driving better environmental and community outcomes;
- Project sponsors and the public have visibility into the project permitting milestones and schedule through an easily accessible public means; and
- All relevant stakeholders are adequately informed and have the opportunity to provide input within a reasonable and consistent timeframe.
Click here to learn more from the USCC about this issue and to lend your voice to the movement that supports reform.