Study reveals how transportation project investments affect U.S. economy
The study, written by the chief economist at ARTBA, shows that investing in transportation infrastructure projects is crucial to the quality of life and economy of the U.S.
“The simple fact is that nearly 63 million American jobs in just tourism, manufacturing, transportation and warehousing, agriculture and forestry, general construction, mining, retailing and wholesaling alone are dependent on the work done by the U.S. transportation construction industry,” Alison Premo Black, the author of the report, said.
The study found that investing in transportation construction industry employment and purchases creates approximately $510 billion each year in U.S. economic activity. This makes up 1.6 percent of the Gross Domestic Product (GDP), which is more than the yearly GDP of 160 nations according to rankings from the International Monetary Fund, including Israel ($321.2 billion), Denmark ($361.3 billion), New Zealand ($211.4 billion) and Ireland ($252.6 billion).
“The increase in traffic congestion and growth in vehicle miles traveled are clearly tied to the improving U.S. economy and creation of new jobs,” Black said. “However, these trends also underscore once again the importance of having a comprehensive national strategy that significantly boosts transportation investment to address these predictable mobility challenges. Congress must do its part this fall by completing action on a long-term highway and transit bill.”