View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
January 27, 2015

Investment in US inland waterways will yield positive results, says NWF study

Investments in the modernisation of ageing lock and dam infrastructure in US inland waterways will create 350,000 jobs a year, a study by the University of Tennessee and the University of Kentucky has revealed.

By Samseer M

Investments in the modernisation of ageing lock and dam infrastructure in US inland waterways will create 350,000 jobs a year, a study by the University of Tennessee and the University of Kentucky has revealed.

The two-year investigation stated that this upgrade will result in full-time employment with a present value of more than $14bn over the ten-year period.

National Waterways Foundation chairman Mark Knoy said: "The research in this important study sponsored by the National Waterways Foundation is an effort to help develop a more effective framework for policy-makers to understand and measure the current navigation system and look to future possibilities and job creation, if proper infrastructure investments are made."

"This upgrade will result in full-time employment with a present value of more than $14bn over the ten-year period."

According to the study, if 21 important navigation projects could be finished at an estimated cost of $5.8bn, the related economic output activity would total more than $82bn over 20 years.

The new freight capacity would create 12,000 new, full-time, permanent jobs each year with annual incomes of more than of $500m; however, terminating commercial shipping on waterways will lead to a ten-year loss of $1.063tn and shipping costs could increase by $12.5bn.

Considering these figures, an estimated 75% of freight would be diverted to truck and/or rail, and there would be a 25% loss due to decreased production, the study stated.

The report stressed the need for investment in increasing efficiency and productivity across sectors, sustaining and creating jobs, and curbing traffic congestion from truck and rail operators.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology