Wednesday, September 29, 2010

United States’ ‘Deteriorating Infrastructure’ Causes Drag on Economic Growth

(Business Wire)

The US Chamber of Commerce has released what it calls the first-ever nationwide and state-by-state Transportation Performance Index which shows a significant decline over the last five years in how America’s transportation infrastructure is serving the needs of domestic commerce, international trade, and the overall US economy. The annual index is the first of its kind designed to look over time at how US transportation infrastructure is serving the needs of the US economy and business community.

“The performance of the nation’s transportation system is not keeping pace with the rate of growth of the demands on that system,” said Thomas J. Donohue, president and CEO of the US Chamber of Commerce. “As our economy recovers, the nation’s transportation infrastructure must be prepared to meet the projected growth in freight and population. In fact, a 10-point improvement in the new national transportation index could generate 3% more growth in the nation’s Gross Domestic Product. However, our index shows that from now through 2015 there will be a rapid decline in the performance of the system if we continue business as usual. Right now we’re on an unsustainable path.” Read more here.