Reinvesting in America, December 2023

As 2023 ends and we look ahead to 2024, our world and our country continue to face a broad range of challenges—including climate change, economic uncertainty, and continued geopolitical tensions. In the face of these challenges, the United States is investing trillions of dollars in public-sector capital via the Bipartisan Infrastructure Law, the Inflation Reduction Act, and the CHIPS and Science Act to bolster economic security, energy security, and national security. In aggregate, these new investments seek to accelerate technology and transform America’s industrial policy and built environment. If implemented effectively, these policies may fundamentally alter the public- and private-sector landscape for the next several decades.

The year 2023 was one of planning. The US federal government drafted and issued guidance for a range of new programs. Many state governments designed, launched, and scaled central coordinating functions charged with winning competitive grants and deploying federal funding (competitive and noncompetitive, new and enduring) as efficiently and effectively as possible.

Agency leaders have developed novel approaches to deploying green financing, expanding broadband infrastructure, accelerating new technology, and building hydrogen hubs to ensure that the United States can keep pace with the demands of rapid modernization across industries.

We believe 2024 will be a year of transition from planning to implementation, with more shovels hitting the ground each day to build the future American economy. To make this happen, leaders at the federal, state, and local levels can work with industry counterparts to address a bevy of significant—but tractable—challenges, such as complex service procurement timelines, material and labor supply chain shortages, and permitting restrictions.

To inspire your efforts over the weeks and months ahead, we developed this compendium containing some of the most read perspectives from McKinsey’s Reinvesting in America Initiative. We thank you for the time and energy you are investing in our country at this critical moment and wish you all the best in 2024 and beyond.