Experts from U.S. transport associations estimate that port infrastructure in the country needs a further US$66 billion in federal government investment.
The estimate was a result of a panel discussion held by the American Association of State Highway and Transportation Officials, or AASHTO, the American Association of Port Authorities, or AAPA, and Congressional PORTS Caucus Co-Chairs Ted Poe and Alan Lowenthal.
“To build America’s 21st century seaport infrastructure and ensure these economic impacts continue, our ports need a combined US$66 billion of federal investments over the next 10 years into the roads, rails and waterways that connect to them,” said Kurt Nagle, president and CEO of AAPA.
The panel highlighted US$4.6 trillion in annual economic activity generated by U.S. ports and 23 million jobs created in the sector. The panel also highlighted the importance of successfully implementing freight-related provisions under the Fixing America’s Surface Transportation Act, or FAST.
Photo: Speakers at the AASHTO / AAPA panel. Credit: AASHTO