Growth in population, jobs, trade and economic output in the nation's cities will dramatically increase congestion unless the U.S. commits to greater transportation investments over the next decade, according to a new report prepared for the U.S. Conference of Mayors.Released this morning, the report provides 2011 output numbers for the nation's 363 metro areas in addition to the 2012 economic outlook.
"Infrastructure repair and reinvestment is a crucial means of jumpstarting the U.S. economy and positioning the nation for future economic growth," the report says. "These investments stimulate our economy in two ways: first by creating jobs directly during planning and construction phases. Second, by creating jobs in the long-term by making the nation's transportation lines less congested, more efficient and more competitive."
The report comes days after the State Budget Crisis Task Force, co-chaired by former Federal Reserve Chairman Paul Volcker, warned of prolonged fiscal problems for states, many of which have cut infrastructure spending.
The conference of mayors' report also focused on the dominant role that U.S. cities play in international exports. It says improved ports and transportation lines are necessary to handle "booming trade across the globe."
