Aging infrastructure and congestion at our nation’s marine ports, inland waterways, and airports makes shipping more expensive, increasing the cost of goods. ASCE’s report, Failure to Act: The Economic Impact of Current Investment Trends in Airports, Inland Waterways, and Marine Ports Infrastructure finds that these costs reverberate through the economy, causing exports and GDP to fall, ultimately threatening more than 1 million U.S. jobs and causing a drop in personal income. With adequate investment, we can ensure that America remains competitive in the global marketplace, keep domestic business running efficiently, and maintain a lower cost of goods for consumers.
Costs attributable to airport congestion will rise from $24 billion in 2012 to $34 billion in 2020. With additional investment of a total of $18.9 billion by 2020, plus the development of NextGen, the U.S. can protect:
- $54 billion in exports
- $313 billion in GDP
- 350,000 jobs
- $361 billion in personal income, or $320 per year for households.
Costs attributable to delays in the nation’s inland waterways system were $33 billion in 2010, and it is expected to increase to nearly $49 billion by 2020. With an additional investment of $15.8 billion between now and 2020, the U.S. can protect:
- $270 billion in U.S. exports
- $697 billion in GDP
- 738,000 jobs annually
- $872 billion in personal income, or $770 per year for households.
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