RYE BROOK, N.Y.--(BUSINESS WIRE)--As America contends with the growing need to build and maintain our critical infrastructure and the lack of government funding to do it, the Bipartisan Policy Center (BPC) is bringing together top executives from some of the nation’s leading companies to explore ways to bridge that gap. BPC announced today the establishment of a new Executive Council on Infrastructure that aims to identify measures to encourage private investment in infrastructure and promote economic growth.
Xylem Inc. (NYSE:XYL) is joining the Council as a member company. As a pure-play water company focused on solving the world’s most challenging water issues, Xylem’s involvement in the Council raises the profile of the urgent needs for investment in critical water infrastructure across the country. Infrastructure is a national problem whose solutions must have a local focus if they are to succeed, which is why this Council draws on voices from around the country.
"As business leaders, we are accustomed to seeking out innovative ideas to drive progress. Working together, we will bring a pragmatic approach to identifying new ways to finance all types of critical infrastructure," said Patrick Decker, President and CEO, Xylem Inc.
The Council is convening corporate CEOs and other executives representing a range of industries, including leaders from McGraw Hill Financial, American Water, FedEx Freight, KPMG, Meridiam, CalSTRS, American Air Liquide Holdings, and Siebert Brandford Shank. It will be co-chaired by Douglas Peterson, President and Chief Executive Officer of McGraw Hill Financial, and Susan Story, President and Chief Executive Officer of American Water and a BPC Board Member. The Council will hold several public and private meetings over the next year as it develops recommendations designed to bring additional private sector investment into infrastructure. BPC will assist in the Council’s work, culminating with the release of a white paper in the first half of 2016.
The Council plans to consult with a range of infrastructure stakeholders, including engineering and construction firms, labor organizations, manufacturers, suppliers, users, and financing experts. It will explore measures that aim to improve the transparency, standardization, and accuracy of project information and assess the potential for infrastructure to become a tradable asset, like stocks or bonds. It also hopes to identify current legal and regulatory barriers to private investment and explore ways to address them.
Members of the Council will kick off their work with a May 7 panel discussion at the Bipartisan Policy Center in Washington, DC that will highlight current challenges in infrastructure financing.
Xylem (XYL) is a leading global water technology provider, enabling customers to transport, treat, test and efficiently use water in public utility, residential and commercial building services, industrial and agricultural settings. The company does business in more than 150 countries through a number of market-leading product brands, and its people bring broad applications expertise with a strong focus on finding local solutions to the world’s most challenging water and wastewater problems. Xylem is headquartered in Rye Brook, New York, with 2014 revenues of $3.9 billion and approximately 12,500 employees worldwide. Xylem was named to the Dow Jones Sustainability Index for the last three years for advancing sustainable business practices and solutions worldwide.
The name Xylem is derived from classical Greek and is the tissue that transports water in plants, highlighting the engineering efficiency of our water-centric business by linking it with the best water transportation of all – that which occurs in nature. For more information please visit us at www.xylem.com.