AAR releases economic impact report

June 14, 2016

Written by  Ben Vient, Managing Editor, Railway Age Magazine

The Association of American Railroads (AAR) released on June 13 a “State of the Industry Report” featuring new research from Towson University’s Regional Economic Studies Institute (RESI) that finds spending by the seven largest U.S. railroads created $274 billion in economic activity, generated nearly $33 billion in state and federal tax revenues and supported nearly 1.5 million jobs nationally in 2014 alone.Website Insert Buy American Mandate copy

AAR says the report is the first of its kind to quantify the impact of investments by Class I railroads with U.S. operations on the overall economy.

Several key points highlighted by AAR:

*Spending: $28 billion in investments by freight railroads in 2014 is more than half of all federal spending on transit formula grants, federal highway construction programs and airport improvement programs combined.

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