Photo: Transportation Department

American investment in public infrastructure can put the U.S. back on track toward economic prosperity according to Daryl Dulaney, president and CEO of Siemens Industry and CEO of Siemens’ infrastructure and cities sector in North America.

In an op-ed for Politico published Sunday, Dulaney said multinational corporations consistently list infrastructure as a top concern when determining where to build a new facility. The American Society of Civil Engineers gave the U.S. a “D” on its infrastructure in 2009.

According to estimates by the U.S. Chamber of Commerce, infrastructure shortfalls cost the U.S. economy nearly $2 trillion.

“That’s the equivalent of a national recession,” Dulaney wrote.

Dulaney also wrote that large companies like Siemens can take large risks on infrastructure investments, but not many can shoulder them on their own, adding to the importance of public investment.

“Critically, at a time of high unemployment, it can create millions of new jobs — while putting 21st-century tools to work to compete and win in the global economy,” Dulaney wrote.