Fresh off NGA’s 2024 Winter Meeting, the organization pulled together the latest in a series of workshops for Governors’ Infrastructure Implementation Coordinators. Marking two years since the first in-person meeting of the network, the group shared the latest on how their states are investing the generational investments afforded by the Infrastructure Investment & Jobs Act (IIJA), CHIPS and Science Act, and Inflation Reduction Act (IRA).
The meeting kicked off with updates and discussion with The White House Infrastructure Implementation Team, U.S. Department of Transportation (USDOT), the National Telecommunications and Information Administration and the Environmental Protection Agency (EPA) regarding cybersecurity protection of critical infrastructure. On Tuesday morning, state and territory leaders met with Treasury officials on tax credit and direct pay programs authorized under the Inflation Reduction Act, with official guidance coming out that day. Infrastructure Coordinators had productive dialogues with leadership from the IIJA and IRA teams, including with Deputy Chief of Staff Natalie Quillian and Director of Intergovernmental Affairs Tom Perez.
On Tuesday afternoon, infrastructure coordinators gathered for a workshop on building out the infrastructure capital stack, featuring leading voices in private equity, green banks and federal financing agencies. Dave Yaros, Tax Principal for Deloitte, set the table connecting IRA tax credits and incentives, plus new “Direct Pay” provisions, with the potential to unlock additional private, public and federal dollars in both state- and private sector-led infrastructure investments. Participants then discussed funding and financing opportunities made possible through USDOT’s Build America Bureau, the Department of Energy’s Loan Programs Office, and EPA’s Water Infrastructure Financing and Innovation Office.
Following a robust discussion of the recently released Direct Pay guidance and the myriad tools and services provided by the creative federal lending offices present, Connecticut Green Bank CEO Bryan Garcia led a discussion about green and infrastructure banking opportunities and how these innovative state-led entities can partner with the public and the private sectors to make investment opportunities more attractive and yield additional public benefits. Participating in that discussion was Christina O’Keefe, Executive Director at the Ohio Air Quality Development Authority; Bert Hunter, Chief Investment Officer of the Connecticut Green Bank; Will Demas, Senior Managing Director & Head of Americas at Macquarie’s Green Investment Group; and Eric Heintz, Managing Director of Renewable Energy Finance and Senior Vice President at M&T Bank.
The group rounded out the day on Tuesday with a discussion about the opportunities for additional private sector-led equity financing, featuring discussions with leadership from Macquarie, Meridiam and the Global Infrastructure Investor Association. Participants discussed developing the next wave of infrastructure projects as a key challenge, which presents an opportunity for public-private sector collaboration.
On Wednesday, Infrastructure Coordinators met with federal agency infrastructure leads, and discussed a variety of topics ranging from electric vehicle charging infrastructure and National Electric Vehicle Infrastructure (NEVI) plans to offshore wind to cybersecurity and critical infrastructure resilience. The meeting concluded with a state and territory-only discussion of next steps for the network.
This meeting marked two years since the first in-person meeting of the Governors’ Infrastructure Implementation Coordinator Network. To follow NGA’s ongoing activities and support for infrastructure implementation, please visit:
