Infrastructure
America’s infrastructure directly affects our economic and social well-being. Every day we rely upon our roads, bridges, transit, rail, water, waste, and other infrastructure to survive and thrive. Despite our dependence on it, we have permitted our infrastructure to be stretched beyond its capacity. Recently, the American Society of Civil Engineers gave a cumulative grade of “D” to the nation’s infrastructure.
In 2009, the U.S. Congress and Obama Administration will spend a considerable amount of time and effort developing infrastructure policy, including work on the next Highway reauthorization bill. Just as Deere was a leading voice in the construction industry in support for infrastructure funding in the economic stimulus debate, Deere will continue to promote robust, reliable, effective funding for all forms of infrastructure — roads, bridges, transit, rail, waterways, water, waste, and beyond.
Infrastructure funding has far-reaching implications for the Construction & Forestry Division and Deere as a whole as outlined below:
Infrastructure Funding Impacts on Deere
Construction & Forestry -- Increased infrastructure funding means increased equipment sales -- according to industry statistics, every $1 billion in infrastructure funding results in $200-300 million in equipment purchases.
Agricultural -- Increased infrastructure funding, particularly for rural development, will improve the efficient transportation of the United States’ agricultural production to worldwide markets and consumers, and will enhance the communication network in rural America with improved broadband access.
Commercial & Consumer -- Increased funding in infrastructure will increase funding for many types of infrastructure, such as the development of green spaces and urban landscaping, thereby increasing the demand for related products and services.
Credit -- The increased demand for the products manufactured by Deere’s equipment divisions will increase the need for associated financing.
Deere will work with its trade associations, dealers, and customers to enact and adequately funded Highway Bill.
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