ANAHEIM, Calif., Oct. 1, 2012 /PRNewswire/ -- In a keynote address delivered to the 11th Annual Southern California Transportation Summit, "Mobility 21," Jonathan M. Tisch, Chairman of Loews Hotels & Resorts, called on transportation and infrastructure policy leaders to reach beyond traditional financing models and partnerships, unite with travel industry and private sector leaders, and build "the world-class infrastructure that America so desperately needs."
Addressing a packed audience of nearly 1,000 transportation experts, policymakers and business leaders, Tisch said that limited government budgets and Washington gridlock have combined to stall critical infrastructure upgrades around the country. "The old model of relying solely on tax increases or more municipal debt, or a helping hand from the federal government, is broken," said Tisch.
Echoing the summit's theme, "We're All In This Together," he implored the audience to consider new, innovative public-private partnerships to help finance infrastructure projects, citing notable models from Canada to Chicago. He also applauded innovative ideas such as America Fast Forward – a proposal to leverage local revenues and federal loans to fast-track construction on vital infrastructure.
While acknowledging the great costs of investing in infrastructure, Tisch emphasized that the cost of inaction would be even higher. He argued that unless our country commits itself to making the necessary investments to improve our travel infrastructure – particularly our aviation infrastructure – we will lag our economic competitors around the world, and miss out on the economic benefits and new jobs that infrastructure investments could create.
In closing, Tisch said, "We must join together to meet this challenge," telling the audience of transportation leaders, "You have allies and partners in the travel industry that are with you every step of the way. We are all in this together."
SOURCE Loews Hotels & Resorts