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<u>Infrastructure development</u> is the construction and improvement of foundational services with the goal of sparking economic growth and improvements in quality of life.
Types
Infrastructure development can involve any type of infrastructure including transportation, energy, water, digital, social, and green infrastructure.
Economic Benefits
Infrastructure can improve efficiency and productivity. For example, Japan's high-speed rail network allows business people to travel from Tokyo to Osaka in 2 hours and 30 minutes whereas the drive takes about 7 hours. The Tokyo to Osaka line serves 151 million passengers a year, potentially saving those passengers around 500 million hours that can be used productively.
Quality of Life
Social and green infrastructure can improve the quality of life and make a region more competitive in acquiring top talent and the headquarters of large firms. For example, education can improve innovation and worker productivity. Health systems can reduce sick time and give society the sense of well-being that is required for economic risk-taking.
Resilience
Infrastructure can be used to improve the resilience of communities to stresses. For example, water infrastructure can reduce the probability and impact of floods
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