You're almost right. What the corporations will do is spend exactly the same amount on upgrading the infrastructure as they were already planning to spend and pocket all of the extra that they're getting from the government. Then they will use some simple accounting tricks to make it look like the government money led to huge improvements and they will refuse to make any more improvements until they see more government money.
Usage Note: Council, counsel, and consul are never interchangeable, though their meanings are related. Council and councilor refer principally to a deliberative assembly (such as a city council or student council), its work, and its membership. Counsel and counselor pertain chiefly to advice and guidance in general and to a person (such as a lawyer or camp counselor) who provides it. Consul denotes an officer in the foreign service of a country.