West Coast Infrastructure Exchange (WCX)

California, Oregon, Washington and British Columbia combined to form the West Coast Infrastructure Exchange (WCX), which was announced on Nov. 14, 2012. The partnership was launched to develop innovative methods to finance and facilitate development the infrastructure needed to improve the region’s economic competitiveness, support jobs and families and to enhance and protect the quality of life on the Pacific Coast.

Public infrastructure needs are acute. All West Coast states and the province of British Columbia need to expand and upgrade energy and transport facilities, update water and wastewater treatment plants, improve airports and dams and construct other projects. At the same time, state and local governments face limits on available financing through traditional sources. The West Coast Infrastructure Exchange is designed to tap the expertise of development and finance leaders to save money and find innovative financing methods. A study commissioned by the participants supports the idea of a collaborative mechanism like the WCX and finds that infrastructure needs on the West Coast will exceed $1 trillion in the next 30 years.[1]

The announcement was made by Oregon Gov. John Kitzhaber, California State Treasurer Bill Lockyer and Oregon State Treasurer Ted Wheeler. The Exchange will be in a start up phase through 2013.

The Exchange is being coordinated by the Oregon State Treasury. Development was funded by a grant from the Rockefeller Foundation.[2]

References

  1. ↑ Infrastructure study
  2. ↑ "Press release". Oregon.gov. Retrieved 2012-11-22.

External links

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