"The competitive success of the United States over much of the 20th century was based on extended periods of strong productivity growth in companies and resulting growth in average earnings for workers," according to the report. "High-quality infrastructure has helped boost U.S. productivity and standards of living, in part by encouraging global companies to create high-paying jobs here. Today, however, America's infrastructure is deteriorating -- both in absolute terms and relative to other countries that are rapidly bolstering their infrastructure."

OFII, a Washington-based group representing foreign companies with subsidiaries in the U.S., outlines various ways to address that infrastructure gap. A key step involves examining best practices worldwide when it comes to infrastructure investment and innovation.

Many countries, for example, have charged user fees in their urban regions to help boost the efficiency of their roads.

"Research has documented many economic benefits of congestion pricing, such as faster delivery times and fewer idle hours for workers," according to the report. "In contrast, although some U.S. cities have invested in pilots to test the feasibility of congestion pricing, widespread application of this concept remains years away."

The report cites public/private partnerships as another means of enabling companies to bring capital, innovative products, and managerial acumen to infrastructure projects. That type of PPP is commonplace throughout Europe, Australia, Canada, and a lot of Asia; and it has been successful in reducing costs and increasing efficiency, OFII notes.

"Many countries have improved their infrastructure by crafting partnerships that draw on the expertise of the private sector," concludes the report. "Here in the United States, subsidiaries of global companies can -- along with other companies -- help pave the way to modernizing America's infrastructure and maintaining America's global competiveness."

Government at all levels must assess which infrastructure projects can bring about the highest return in investment, OFII suggests. The expansion of private funding can help achieve that goal.

"From design and engineering to earth-moving and construction, U.S. subsidiaries of global companies offer world-leading building practices," the report states. "Of course, so too do many U.S.-based companies. Competition among companies in building infrastructure benefits government via higher quality, more variety, and lower prices."

The 20-page report, "Building Competitiveness: American Jobs, American Infrastructure, American Global Competitiveness," is available at bit.ly/OFII-Report.