Poor public transit infrastructure costs businesses $340 billion

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A $90 billion backlog of public transit modernization projects has cost the U.S. economy $340 billion in business revenue over a six-year period, according to an American Public Transportation Association (APTA) study.

For the study, the APTA conducted in-depth case studies on six transit systems and examined modernization needs in bus and bus facilities.

The nation’s public transportation infrastructure has a grade of a D minus, according to the American Society of Civil Engineers. This has resulted in result in a $180 billion decrease in the gross national product, the APTA study said, a $109 billion loss in household income and a loss of 162,000 jobs over six years.

The quality of public transit systems also determines the quality of businesses that relocate to an area.

“Our failure as a nation to address America’s public transit modernization needs has wide-ranging negative effects because lost time in travel makes a region’s economy less productive,” Paul Skoutelas, APTA president and CEO, said. “Congress has an opportunity in the current fiscal year 2019 Appropriations process to help address the nation’s aging public transit infrastructure.”

Skoutelas urges Congress to address the solvency of the Highway Trust Fund. The fund expires in 2020 and needs $20 billion annually to maintain current investments.