A new report from Duke’s Center on Globalization, Governance & Competitiveness has found that a piecemeal approach to investing in the nation’s decaying transportation infrastructure has cost the nation more than 900,000 jobs and makes the United States less competitive than its top trading partners.
Other findings include:
- Every dollar invested in transportation infrastructure returns $3.54 in economic impact.
- Deficient and decaying infrastructure makes the United States less competitive than many of our top trading partners, with global assessments ranking the United States 16 out of 144 nations and 6 among our top 15 trading partners.
- The U.S. invests on average $848 per person annually on transportation investments compared to the European Union’s $2,589 per person. This underinvestment has contributed to a $900 billion backlog in needed investments and repairs in the U.S. Read more here.
While this study takes a national look at the economic impact of infrastructure investment, North Carolina is also facing significant long-term funding challenges to maintain and improve the state’s transportation system. Investing in the transportation system is crucial for quality of life and economic growth, and will yield a significant return on investment as it provides a resource for years to come.
In order to proactively address the long-term transportation challenges in our state, the NC Chamber has formed the Coalition for a Prosperous Future to join the voices of key stakeholders throughout the broad-based business community with other aligned organizations to advance comprehensive solutions around this critical issue. If your organization is interested in joining the Coalition for a Prosperous Future, please contact Jake Cashion.
Join the conversation on Twitter with #MovingNC.
Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber