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APTA Study: Failure to Address Public Transit Modernization Results in Huge Loss to Economy
To coincide with the release of a new study, The Economic Cost of Failing to Modernize Public Transportation, APTA convened a press conference call with public transit leaders May 17 during National Infrastructure Week to discuss the costs of not addressing aging and deteriorating public transit infrastructure.
Rep. Brian Fitzpatrick (R-PA); Jeffrey D. Knueppel, general manager of Philadelphia’s Southeastern Pennsylvania Transportation Authority (SEPTA); Dorval R. Carter, Jr., president of the Chicago Transit Authority (CTA); Jeffrey Parker, general manger & CEO of the Metropolitan Atlanta Rapid Transit Authority (MARTA); Ed Reiskin, director of transportation, San Francisco Municipal Transportation Agency (SFMTA); Joanna Pinkerton, president/CEO, Central Ohio Transit Authority (COTA) in Columbus spoke.
Click here for APTA's press release, quotes from the public transit leaders and a full audio recording of the press briefing.
Decades of underinvestment in America’s aging bus and rail public transit infrastructure have had a negative effect on business revenue and resulted in lost jobs and wages, according to the study conducted by the Economic Development Research Group Inc. for APTA.
Failing to address the nation’s $90 billion backlog of public transit modernization needs, also referred to as State of Good Repair, results in a loss of $340 billion in business revenue to the U.S. economy over a six-year period, the report shows. Modernization deficiencies in the nation’s public transit infrastructure result in a decrease of $180 billion in Gross National Product. This includes a loss of $109 billion in household income over six years and 162,000 jobs over the same time frame.
The report examines public transportation modernization needs nationwide and presents in-depth case studies of Boston’s Massachusetts Bay Transportation Authority, CTA, MARTA, SEPTA, SFMTA, and Washington Metropolitan Area Transit Authority. The report also examines modernization needs in bus and bus facilities applicable to systems such as COTA.
Read The Economic Cost of Failing to Modernize Public Transportation here.
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