ASCE to Release New Report Detailing Trade Impacts of Failing to Invest in America’s Seaports

The nation’s seaports and inland waterways are critical links that make commerce possible. With the expansion of the Panama Canal by 2015, these facilities require rapid modernization. Recognizing this, the American Society of Civil Engineers (ASCE) will unveil a new economic study on Thursday, Sept. 13 at 10 a.m in Washington, D.C.  The study measures the impacts on jobs, GDP and other economic indicators if the nation fails to meet the investment needs of our ports infrastructure on our national economy. Attendees can RSVP by emailing [email protected].

The nation’s ports facilitate international trade, a significant driver of growth in the U.S. economy.  Exports alone supported approximately 9.7 million jobs in 2011 with every billion dollars of exports supporting 5,080 domestic jobs.

The expansion of the Panama Canal will transform the trade sector by opening the route to larger ships that require wider and deeper harbors at port facilities.  Ports throughout the world are focused on ensuring they remain competitive by preparing their facilities to accommodate these larger vessels. The U.S. must make the same type of infrastructure improvements or we will fall behind.

The fourth report in ASCE’s Failure to Act series quantifies the macro costs to the economy of unmet investment needs in America’s waterborne and airport infrastructure – including job losses, impacts on GDP, U.S. exports, household budgets and personal incomes. It also projects the level of investment needed by 2020 to circumvent these consequences.

The panel discussion will convene experts in international trade, ports, and inland waterways to explore the report’s implications for U.S. consumers and businesses and discuss other near-term challenges facing the sector.

Attendees will have the opportunity to participate in the moderator-led discussion and a light breakfast will be provided. 

Source: ASCE