ITIF advocates investment in the nation?s digital infrastructure as the most effective way to jump start the economy.
The scientists involved with ITIF single out three infrastructure projects that they claim can provide an important short-term boost to the economy. They are: broadband networks, health information technology (IT), and the smart power grid.
- contribute to significant immediate direct and indirect job growth in our economy
- create a ?network effect? throughout the economy that, in some cases, doubles the number of directly created jobs
- provide a foundation for longer term benefits, including government cost savings, economy-wide productivity, and improved quality of life for Americans
An additional investment of $30 billion in the network infrastructure will create approximately 949,000 jobs, 525,000 of them in small business. A $10 billion investment in year one in broadband networks will support an estimated 498,000 new or retained U.S. jobs for a year.
An additional $10 billion investment in health IT in year one would create as many as 212,000 new or retained U.S. jobs for a year.
A $50 billion additional investment in the smart power grid over 5 years ($10 billion per year) would create approximately 239,000 new or retained U.S. jobs for each of the 5 years.
Acknowledging that projects to improve traditional physical infrastructure such as roads, bridges and sewer systems are necessary and important, the authors of the report contend that digital infrastructure projects will have a more immediate impact on jobs, productivity and innovation.