Former U.S. Transportation Secretary Anthony Foxx has taken a new job, as a managing partner with a New York-based developer.
Foxx, a former Charlotte mayor, will lead a new infrastructure division for Related Companies along with another former transportation official, Andrew Right.
According to a company news release, Related Infrastructure will focus on “transportation opportunities and businesses that drive efficiency and affordability for state and local governments.”
The Wall Street Journal reported that Related has hundreds of millions of dollars available to invest in infrastructure projects. President Donald Trump has talked about a trillion-dollar plan to build American infrastructure.
“We think the market is as big as the country is,” Foxx told the Journal.
According to the Journal, Related Infrastructure won’t directly own infrastructure projects but instead buy stakes in construction companies and other businesses that build and operate public or privately owned projects.
“This segment only will get better if there’s a large infrastructure package (pushed through by the Trump administration), but it doesn’t depend on that,” Foxx told the Journal. “Even if things stay as they are there will be great opportunities.”
Foxx was elected mayor in 2009 and 2011.