Giving Compass' Take:

· Cities often turn to distant solutions when looking to grow their economies and create new jobs, but they forget about the opportunities right at home. The Brookings Institution emphasizes the importance of supporting and investing in local employment opportunities to boost economic returns.

· Why should localities focus investments at home rather than pouring funds into luring new businesses? How does infrastructure promote local growth and support industries? 

· Read about investing in water infrastructure and workers.

In the race to grow their economies and create new jobs, localities frequently look far beyond their borders. Too often, they try to lure new firms through costly incentives and subsidies with questionable economic returns, a trend that is only gaining more national spotlight during the search for Amazon’s second headquarters. But looking closer to home in support of their core industries and employment opportunities could more directly build off localities’ existing economic strengths.

Investing in infrastructure is foundational to these efforts. Not only does infrastructure serve as a platform to support industries and broader regional growth, but it can also be a driver of more equitable and enduring growth for individuals.

After all, constructing and maintaining reliable roads, ports, pipes, and other systems is essential to all types of businesses and households. Whether moving passengers and goods or ensuring that water, electricity, and broadband is available to everyone, both the public and private sector have a shared responsibility to oversee these various systems. Yet even beyond this supportive role, many local leaders overlook another significant opportunity: Infrastructure can also represent a key economic anchor.

Read the full article about infrastructure as an economic anchor by Joseph Kane at The Brookings Institution.