John Hennessy III,
P.E.
COMMUNITY BUILDERS Executive Summary Local leaders intuitively recognize that building a great community is essential to building a strong and resilient economy, but what underlies this linkage and how can communities strengthen it? These are the guiding questions behind the Place Value study, which explores why people and businesses are drawn to particular communities in […]
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North Carolina’s public airports annually contribute $52 billion to the state’s economy, supporting 307,000 jobs that generate $12.6 billion in personal income and $2.2 billion in state and local tax revenues. Aerospace giants Boeing, Cessna, GE Aviation, Honda Aircraft, Lockheed Martin and Spirit Aerospace Systems call North Carolina home, choosing our state for its connectivity, skilled workforce and business-friendly environment.
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In all cases shown below, the benefit-cost ratio exceeds 1, meaning that $1 invested in transit yields more than $1 in economic benefits. Three Chicago-specific studies conducted over the past two decades all show significant benefits to the region if we were to invest in a state of good repair or expand service. Of all the studies we surveyed, the smallest expected return from investing in transit was 21%. This would be considered a hugely successful investment in the private sector.
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Will autonomous trucks mean the end of the road for truck drivers? The $740-billion-a-year U.S. trucking industry is widely expected to be an early adopter of self-driving technology, with numerous tech companies and major truck makers racing to build autonomous trucks.
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The travel industry is a primary driver of economic growth and job creation in the United States. Effective travel promotion leads to increased economic activity, well-paying jobs and crucial tax revenue supporting essential public services.
In 2017, the travel industry generated $2.4 trillion for the U.S. economy, supporting 15.6 million American jobs. One in nine U.S. jobs directly and indirectly rely on the travel industry.
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Aging U.S. infrastructure is threatening our economy and our future. Around the country, bridges are falling apart, water pipes are blowing and aviation transportation infrastructure is not keeping up with demand. With a new workforce preparing to take over the reins, will infra get the new blood it needs?
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Silicon Valley is booming. The economy has come roaring back since the 2008 downturn. In 2013, the total surged past even the 1999 high-water mark of the dot-com boom, and there are more total jobs in the county than ever before. That roaring economy has an impact everyone feels: more traffic.
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The importance of the overall initiative is twofold: one is infrastructure. Public infrastructure lays the foundation for economic development, lays the foundation for recruiting new businesses and creating a sustainability for communities. More importantly at the current time, it’s created jobs.
In 2013, the Nevada State Legislature passed Assembly Bill 413 to fund critical roadway improvements. Since then, we’ve awarded $620,000,000 dollars, created 8,000 jobs, funded 225 projects, and employed 78 local small businesses.
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As the U.S. economy continues to grow, many communities are struggling to translate this growth into more equitable and inclusive employment opportunities. Simultaneously, many of the nation’s water infrastructure assets are in urgent need of repair, maintenance, and restoration. Yet the workers capable of carrying out these efforts are in short supply due to an aging workforce eligible for retirement and the lack of a pipeline for new talent.
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Since the mid-1990s, demographic and economic shifts have fundamentally changed markets and locations for real estate development. These changes are largely powered by growth of the knowledge economy, which, since the turn of the 21st century, has begun moving out of suburban office parks and into more walkable mixed-use places in an effort to attract and retain highly educated young workers and support creative collaboration among them.
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