In the American Society of Civil Engineers’ 2013 Report Card for America’s Infrastructure, the United States scored a D+ average. Not exactly “hang-on-the-refrigerator” type grades.
In a Tuesday presentation at NRF’s Global Supply Chain Summit, the society’s Brian T. Pallasch presented a somewhat grim portrait of the nation’s roads, railways, airports and other infrastructure. Although scores improved in six of the report’s 16 categories, the reality is that investment in infrastructure is not keeping up with needs. But what’s the real impact of this to retailers and consumers?
The report estimates that if an additional $157 billion isn’t invested in infrastructure every year through 2020, the United States will encounter:
- $3.1 trillion in losses in GDP
- A $1.1 trillion loss in U.S. trade value
- 3.5 million fewer jobs
- A $3,100 per-year decrease in personal disposable income per household
- A $2.4 trillion drop in consumer spending
Pallasch said preventing those losses will require strong leadership at the national level, as well as a commitment to sustainability and being smart about how to prioritize projects to get the biggest benefits. Watch the short video for more details from the report. And for those interested in the full results, their fantastic app is worth exploring.