INFRASTRUCTURE INVESTMENT

Today I want to cover something that we're actually focused on at Crown Capital Investments as one of our investment tranches. We've talked before about the reindustrialization of America, but we also think there's going to be a big infrastructure play, so we’ve looked at several companies in this space. Just to give you some numbers relevant to this topic:

• $4.6 trillion dollars of investment in the United States is needed to get us from our current D+ rating to a B rating

• $473 billion dollars in drinking water infrastructure spend alone is needed over the next 20 years, according to the EPA, to get our drinking water up to standard

• $836 billion on roads and bridges

• Federal spending has gone down to the last 35 years from 1% of GDP down to a half percent of GDP, so the feds are going to have to step in and bridge that gap.

So just as a corollary, in 2018, 12% of all jobs were from infrastructure. We expect that to go up and it actually looks similar to industrial jobs (things like factories and manufacturing) in America which make up 11% of jobs. So, we like this space we're looking at several companies right now in this space and we expect to have a pretty heavy investment in this space over the next 6 months.