Toward A National Strategic Investment Framework

Working Paper on Megaregions, Governance, and Finance

By Mark Pisano, Dan Mazmanian, Richard Little, Alison Linder, Bev Perry.

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America is entering a tumultuous period unrivaled in recent history, in which we must confront a host of challenges including a deep recession, our nation's dependence on foreign oil, and the challenge of global survival because of climate change. To face these challenges, a transformation is needed to streamline and improve our systems of governance, planning and finance of the infrastructure systems necessary for the nation's sustainable growth. This paper calls for the adoption of a Strategic Investment Framework by the federal government that would evaluate infrastructure investments against a Triple Bottom Line of environmental health, social equity, and economic growth. The paper also proposes a new governance and decision-making process for megaregions, in which university-based Centers of Excellence would assist partnerships of local and state governments in outcome-based procurement for major infrastructure projects and project evaluation against the Triple Bottom Line performance criteria.