By Annie Russo
The Department of Treasury, this month, in conjunction with The Council on Economic Advisors released a report, “An Economic Analysis of Infrastructure Investment.” The report highlights the job creation benefits derived from infrastructure spending. This data will help bolster ACI-NA’s argument that spending on airport infrastructure significantly benefits local communities economically.
Of these jobs created, 90 percent of them are defined as middle class jobs, meaning that the salaries fall been 25th and 75th percentiles in national distribution of wages. With the unemployment rate among the construction sector at 17 percent, a large push for infrastructure investment could have a significant impact on our national unemployment rate.
The Transportation Department and the Obama Administration learned through the $1.1 billion provided in the American Recovery and Reinvestment Act for the Airport Improvement Program that the airport industry creates thousands of jobs through infrastructure investment projects. This report highlights the high yielding nature of those jobs and the true impact on those employed as a direct result of infrastructure construction.
As the Administration crafts their recently proposed $50 infrastructure investment plan and as the new 112th Congress considers ways to bolster the economy, they need to look no further than increased AIP funding, a raise on the Passenger Facilities Charge cap, and the continued exemption of the Alternative Minimum Tax on private activity bonds to not only improve safety and security for the aviation industry, but also to put thousands of Americans back to work in middle class jobs.