The infrastructure deal is smaller than many wanted, but it will still make a difference, according to investors in the space.

President Joe Biden said he has reached agreement on a “hard” infrastructure bill that would involve $579 billion in new investments in road construction, waterways, electric utilities, and broadband internet.

While much smaller than the initial, broader $2.2 trillion American Jobs Plan proposal, investors said it nonetheless represented a significant down payment on rebuilding America’s infrastructure.