Thursday, July 19, 2012
WASHINGTON, D.C. -- The following is a statement from Andrew W. Herrmann, P.E., president of The American Society of Civil Engineers (ASCE) regarding President Obama's announcement that five major ports infrastructure projects will be expedited as part of the Administration’s We Can’t Wait initiative:
"I am excited to hear the Administration is taking steps to speed up improvements of some of America’s most important infrastructure and our lifeline to international trade – our ports. Over 70 percent of our imports arrive to the U.S. by water. It’s not only our ports that are in need of expeditious investment. Every day that we fail to invest in our roads, bridges, water and wastewater systems, and electric grid, we are forcing families and businesses to pay thousands of dollars in avoidable costs.
A series of ASCE reports found that a lack of investment in our roads and bridges will cost our economy 877, 000 jobs by the year 2020. Underinvesting in our electric grid will cost American businesses $126 billion within the same time frame, and a lack of water and wastewater funding will cost family incomes $59 billion.
The fourth and final report in the ASCE report series – scheduled for release in September- will analyze how failing to close the investment gap in our ports and inland waterways will cost our economy and household incomes dearly in the next decade.”
Founded in 1852, the American Society of Civil Engineers represents more than 140,000 civil engineers worldwide and is America's oldest national engineering society. For more information, visit www.asce.org.