ARTBA "Price Tag of Prolonged Closures Could Reach $9 Million Weekly and Impact All Industry Sectors in the State"

//ARTBA "Price Tag of Prolonged Closures Could Reach $9 Million Weekly and Impact All Industry Sectors in the State"

ARTBA "Price Tag of Prolonged Closures Could Reach $9 Million Weekly and Impact All Industry Sectors in the State"

As the shutdown continues, the cost could grow to as high as $9 million per week in lost sales, wages and economic activity throughout the state. Over time, the reduction in demand could impact an additional 1,500 non-construction jobs.

Dr. Alison Premo Black, PhD

A study by the American Road and Transportation Builders Association (ARTBA) begins to quantify the economic impact of bankrupt TTF and how the lack of funding will impact not just construction but related industries as well.

Construction spending on the affected TTF projects supports an additional 1,500 jobs through other major sectors of the economy, including manufacturing, healthcare and retail. As more construction workers lose their jobs and cut back on spending, this will reduce demand in other sectors of the economy, and could put these jobs at risk.

Dr. Alison Premo Black, PhD

 
ARTBA-shutdown-pie

SOURCE: ARTBA

The longer this shutdown goes on, the more it will cost NJ taxpayers and delay the completion of much-needed improvements.
Read the story here: http://www.artba.org/wp-content/uploads/2014/03/NewJersey_report_Update_July.pdf

By |2016-08-11T10:35:56+00:00August 11th, 2016|Infrastructure|