(GLOBE NEWSWIRE) -- The Trump administration hopes to create millions of new jobs through a highly touted $1 trillion investment in the country's infrastructure. According to the Boston Consulting Group, an investment of this magnitude could create three million or more jobs over the next five years - if planners prioritize projects on the basis of their job creation potential and project criticality.
Similarly, the firm feels that if planners focus strictly on project criticality, that number could drop to 1.6 million. The company's projections are detailed in a new report.
The study found that planners will need to adopt what is described as a "balanced, portfolio approach". This would encompass equal investments in sectors that have high job creation potential (such as seaports, hospitals, and airports), as well as those that do not create a large number of jobs but are crucial to overall economic productivity.
As part of their analysis, authors of the study evaluated more than 60 projects, including:
- Repairing Arlington Memorial Bridge.
- Expanding Colorado’s I-70 mountain corridor.
- Building a new airport in Orlando.
- Accelerating expansion of Savannah harbor.
BCA feels these projects, expected to cost as much as $300 billion, could be used to jump-start the president’s initiative. The firm also states that infrastructure spending is responsible for about 15.5 million direct and indirect U.S. jobs that pay an average of $68,000 per year.