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ASCE Reports on Infrastructure Gap

Wednesday, January 23, 2013

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Without an extra $1.57 billion per year invested in U.S. infrastructure, the country will face a rough road ahead, according to a new report on infrastructure investment. 

On Jan. 15, the American Society of Civil Engineers (ASCE) released its fifth and final report in the Failure to Act series, which examined the long-term effects of investment in infrastructure on the U.S. economy.

The report, The Impact of Current Infrastructure Investment on America's Economic Future, is a preface to ASCE's 2013 Report Card for America's Infrastructure, which will be released on March 19, the association said.

Filling the Investment Gap

According to the report, the U.S. needs to invest an additional $1.57 billion per year between now and 2020 in drinking water and wastewater, electricity, surface transportation, seaports and waterways, and electricity infrastructure.

Flickr / WSDOT

A new report from ASCE says that the U.S. needs to invest an additional $1.57 billion per year in infrastructure.

Without the funding, the nation will lose $3.1 trillion in gross national product; $1.1 trillion in trade; a $3,100 per year drop in disposable income; $2.4 trillion in lost consumer spending; and more than 3.1 million jobs, ASCE said.

The report estimated investment gaps between now and 2020 that include:

  • $846 billion in surface transportation;
  • $107 billion in electricity;
  • $84 billion in drinking water and wastewater;
  • $39 billion in airports; and
  • $16 billion in seaports and waterways.

According to the report, the deterioration of the nation's infrastructure "undermines the economy, jeopardizes public safety, threatens the quality of life, and harms the U.S. economy."

"We depend on infrastructure as the physical framework for our economy and our quality of life," said ASCE's president, Gregory E. DiLoreto, P.E., P.L.S., D. WRE, F.ASCE.

DiLoreto said that the new report "presents an overall picture of the economic opportunities associated with infrastructure investment and the cost of failing to fill the investment gap."

All five reports can be downloaded from ASCE. The other four reports addressed Electricity; Water and Wastewater; Surface Transportation; and Airports, Inland Waterways, and Marine Ports.

About ASCE

Founded in 1852, ASCE represents more than 140,000 members of the civil engineering profession worldwide.

The society's mission is to provide essential value to its members and partners, advance civil engineering, and serve the public good by advancing technology, encouraging lifelong learning, promoting professionalism and the profession, developing civil engineer leaders, and advocating infrastructure and environmental stewardship.

More information: www.asce.org

   

Tagged categories: American Society of Civil Engineers (ASCE); Associations; Economy; Infrastructure; Wastewater Plants

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