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How Biden’s infrastructure bill will shake up utility and telecom companies

May 3, 2021

h President Biden’s infrastructure bill, also known as the American Jobs Plan (AJP), aims to create millions of jobs and modernize the country’s crumbling infrastructure. The federal government touts this bill as the biggest public investment since the 1960s. It aims to kickstart the economy post-pandemic, akin to the era of interstate highways and the Space Race. Utility and telecom companies show keen interest in the $400 billion allocated for infrastructure in the $2 trillion plan.

Although still in its early stages, challenges are expected as the plan moves toward enactment. Nonetheless, it’s been years since such a sweeping bill has generated this much buzz across party lines. Experts predict significant portions of the plan will pass through the budget reconciliation process.

Breaking down the AJP

Let’s look at some of the quite staggering figures that the AJP projects to spend in the utilities and telecom sectors, and what it ultimately aims to accomplish with that money.

Water sanitization upgrade

The AJP will invest $45 billion to eliminate all lead pipes and service lines in drinking water systems across the whole country. That doesn’t include the additional $56 billion in grants and flexible loans to states, tribes, and territories to modernize their drinking, wastewater, and stormwater systems.

Telecoms upgrade

$100 billion is earmarked to build out the nation’s high-speed broadband infrastructure to 100% coverage, including in remote and rural areas. The plan also commits to working with Congress to reduce the price of broadband.

Electrical grid upgrade and clean energy

To modernize the nation’s electrical grid, $100 billion will be invested. This will create a more resilient grid system, while also extending production and investment tax credits. The aim is to accelerate clean energy jobs and projects in wind, solar, and other forms of renewable energy.

Other notable investments

$16 billion for plugging oil and gas wells, as well as restoring and reclaiming abandoned mines, and investing $10 billion for the development of a new Civilian Climate Corps to help conserve public lands and waters.

Impressive, right? But what does it really mean for utility and telecom companies?‍

Telecom worker performing inspection of telecom tower using a tablet - How Biden’s infrastructure bill will shake up utility and telecom companies feature

More work for utilities and telecoms

Under Biden’s plan, the utility and telecom industries will benefit from more work, more jobs and more money. This will spur growth across both sectors, which will need to hire and manage a bigger workforce. But which companies will benefit exactly? Will it be yours?

Subcontractors, irrespective of size, must meet federal requirements and prove their excellence to large contractors. This entails adhering to regulations, hiring top talent, and showcasing adaptability. Modern, tech-savvy firms will join the infrastructure campaign, benefiting organizations and citizens alike.

Organizations that can’t demonstrate these capabilities will miss out on this enormous opportunity.

‍Are you ready?

A modern, forward-thinking infrastructure plan necessitates a proactive workforce. Companies face the risk of being overlooked due to their outdated systems. Pen and paper, outdated data, and process inefficiencies are insufficient.

Transitioning to Fulcrum, a mobile data collection and workflow automation platform, empowers utility and telecom companies. This modernization effort enhances operational efficiency, boosting productivity, communication, safety, and compliance.

The cloud-based Fulcrum platform simplifies processes and automates workflows. This frees up time for teams to handle increasing project loads. As projects multiply, location-aware mobile apps facilitate field team management and communication.

Fulcrum ensures real-time accessibility to data collected and shared by teams. Seamless integration with existing systems enables streamlined reporting. This not only optimizes project management but also showcases safety and accountability to stakeholders.

The future looks bright for utility and telecom companies. Don’t fall behind.

For more information on how President Biden’s infrastructure bill could impact utility and telecom companies, and how Fulcrum can help you prepare for the opportunities ahead, contact us today. Let’s ensure your company stays ahead in the evolving landscape of infrastructure development.