Report: Failure to invest in public transit will cost $180B in GDP through 2023 | Dump Trucks Charlotte NC

public transit repair and modernization needs could lead to a loss of $180 billion in gross domestic product (GDP) for the period 2017 to 2023, could cost Americans 162,000 jobs, $109 billion of household income and $340 billion in business sales.  
• The U.S. Department of Transportation calls the initiative to meet public transit modernization needs the State of Good Repair and reported that $50 billion of the total backlog exists just within the country's biggest transit systems in San Francisco, New York City, Southeastern Pennsylvania, Boston, Atlanta, Washington, DC, and Chicago.
• APTA found that when transit systems in poor condition break down, the immediate economic effect is that travel time cost rises for passengers and the out-of-service train, subway or bus line must pay for repairs on top of losing revenue. These repair costs take money away from the modernization and expansion efforts cities must undertake in order to keep up with capacity demands and to create a thriving environment that will attract and retain job-creating businesses.  

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Industry associations like APTA have been ringing the warning bell about mounting  U.S. infrastructure backlogs for years. The American Road and Transportation Builders Association has reported that approximately 9% of U.S. bridges are structurally deficient and that it would cost up to $700 billion to repair them all.

The American Society of Civil Engineers said that it would take $4.6 trillion to tackle all the needed U.S. infrastructure columbus oh dump truck company by 2025. The society also reported that more than 90,000 U.S. dams are an average 56 years of age and that 70% of dams will be more than 50 years old by 2025. The Association of State Dam Safety Officials said that it would take more than $64 billion to fix all the dams in the U.S., with the U.S. Army Corps of Engineers reporting that it would cost more than $25 billion to upgrade all the dams under its control.

These and other reports have helped to generate a great deal of enthusiasm for the President Trump's proposed infrastructure plan. Even though the passage of a bill is unlikely to happen before the November midterm elections, companies like AECOM are establishing special divisions that will tackle future federal projects and merging or acquiring other companies in order to expand on their current capacities.