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New York governor plans £16bn private investment push for infrastructure

New York governor Andrew Cuomo has unveiled plans for a bold $25bn (£16bn) programme of infrastructure investment to be funded largely by private investment.

Cuomo’s New York Works Fund and Task Force will use £840M of state funding to spur up to £16bn in investment from other sources, including private companies and the federal government. The cash will allow major projects to move forward that will create jobs and improve the state’s infrastructure.

To accelerate select infrastructure projects that promise maximum economic impact, the governor’s plan intends to use provisions from new design build legislation, passed in December.

Cuomo set out his plan alongside his 2012/13 budget.

It includes £747M to accelerate investments in the state’s highway and bridge infrastructure.

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