$1 trillion infrastructure bill would have big impact on US economy, NC firm says

RESEARCH TRIANGLE PARK – The $1 trillion infrastructure bill being debated in Congress will have an economic impact “far beyond its direct target,” according to an analysis of the bill by North Carolina-based economic analysis firm IMPLAN Group.

“The ripple effect of this large amount of government spending can be expected to make a difference across the country, not just in the industries where it is initially spent, but also far beyond,” wrote Chandler West of IMPLAN.

“The White House calls the infrastructure bill the ‘largest federal investment in public transportation ever’ and the ‘largest investment in passenger rail since the creation of Amtrak 50 years ago.’ IMPLAN’s analysis shows that the bill’s impact will span far beyond its direct target, making a significant change in households and in the U.S. economy at large.”

The Huntersville-based firm says its analysis shows the bill – if passed by the House, already approved in the Senate – would affect hundreds of thousands of jobs across multiple industries.

“IMPLAN’s analysis found that investment from the infrastructure bill would support a total 998,826 jobs annually and $383 billion in labor income over the six year period. The analysis estimated that the bill would generate over $86 billion in federal tax dollars, or 15.75% of the total investment. The bill would support an estimated $686 billion contribution to the National Gross Domestic Product,” West noted.

Here’s a look at the bill and impact: