Industry groups foresee boost from infrastructure bill

Industry groups foresee boost from infrastructure bill

AISI says bill could yield up to 5 million tons in steel demand for every $100 billion in spending.

Subscribe
November 8, 2021

The Washington-based American Iron and Steel Institute (AISI) and its president and CEO Kevin Dempsey foresee a positive impact to the steel industry in the United States from the Infrastructure Investment and Jobs Act (IIJA):

“American steel built this country, and the industry is now ready to get to work on rebuilding this country,” Dempsey says. “Repairing and modernizing our national transportation system is essential and we are glad Congress agrees. This bill would ensure that our infrastructure system meets the need of the 21st century.”

He continues, “Funding roads and bridges, ports and waterways, water infrastructure, the electric grid and investing in electric vehicle systems, all will require a lot of steel—and our industry is ready to provide that steel. Passing this bill today provides a tremendous boost to our industry, as demand for American steel could increase by as much as 5 million tons for every $100 billion of new investment.”

Domestic steelmakers, in particular, will benefit, Dempsey adds. “This bill will make sure that taxpayer funds are used to procure cleaner steel produced in the United States, where it is made with a lower carbon and energy intensity than steel made in the other leading steel-producing countries. We look forward to President Biden signing the bill into law very soon.”

The Arlington, Virginia-based Associated General Contractors of America (AGC) and its CEO Stephen E. Sandherr say the bill “provides the kind of funding needed to modernize the country’s aging and overburdened infrastructure. The legislation also maintains the policy of One Federal Decision, cutting the amount of time needed for federal reviews of infrastructure projects.”

Sandherr adds, “Once the president signs this bill into law, our members are ready to begin the hard, but necessary, work of rebuilding the nation’s infrastructure. They will also begin the work of building rewarding careers for a generation of new construction professionals because of this measure. Ultimately, these new infrastructure investments will provide a needed boost for the construction industry while making our economy more efficient.”