AAPA Seaports
AAPA estimates that, without sufficient investment from federal sources, the nation risks the loss of $4 trillion in potential GDP loss and $575 billion in cost to American businesses and households by 2025.
By Sarah B. Hood—
Last January 10, Port of Cleveland President and CEO William Friedman spoke on behalf of AAPA before the U.S. Senate Committee on Environment and Public Works about the sector’s critical infrastructure issues.
“It is imperative that related infrastructure be a part of any broad infrastructure investment legislation the committee develops,” he said. “AAPA has identified $66 billion in potential waterside and landside investments over the next decade that will help assure the benefits from an anticipated $155 billion in port-related capital infrastructure investments.”
AAPA President and CEO Kurt Nagle points out that “seaport cargo activity accounts for 26 percent of U.S. GDP and over 23 million American jobs, and generates over $320 billion annually in federal, state and local tax revenues.” AAPA estimates that, without sufficient investment from federal sources, the nation risks the loss of $4 trillion in potential GDP loss and $575 billion in cost to American businesses and households by 2025. That is in addition to the $14 billion in the added cost of traded products due to shallow harbors by 2040.
