BAF Applauds White House Effort to Expedite Port Infrastructure Investment
WASHINGTON, DC – The Obama Administration today announced a new effort to expedite national and regional port infrastructure projects to help modernize and expand five major ports - Port of Jacksonville, the Port of Miami, the Port of Savannah, the Port of New York and New Jersey, and the Port of Charleston - in advance of the 2014 Panama Canal expansion.
In response Marcia Hale, President of Building America's Future, issued the following statement:
“The journey of much of our nation’s commerce begins or ends at our ports, and too often, outdated infrastructure impedes the efficient flow of goods into and out of our ports. The World Economic Forum ranks U.S. port infrastructure 23rd in the world – behind countries like Iceland and Estonia. What’s more, the Chinese port in Shanghai moves more annual container traffic than the top eight U.S. ports combined. We applaud the Administration’s new effort because it will have a significant impact on our nation’s economic prosperity and global competitiveness.”
Building America's Future Educational Fund (BAF-EF) released a report - "Falling Apart and Falling Behind" - comparing the transportation infrastructure investments in the U.S. with those being made by our economic competitors. The report includes a series of recommendations to policymakers; chief among them is to develop a national infrastructure strategy for the next decade that makes choices based on economics, not politics. For the full report and more information, please visit www.BAFuture.org/Report.
To view the White House press release, please visit: http://www.whitehouse.gov/the-press-office/2012/07/19/we-can-t-wait-obama-administration-announces-5-major-port-projects-be-ex.
# # #
Freight railroad bottlenecks cost about $200 billion (1.6% of GDP) per year.