AAPA Eyes USD 66 Bn Funding for Port Upgrades
The American Association of Port Authorities (AAPA) is looking to secure some USD 66 billion from the US President’s USD 1 trillion infrastructure package for federal port-related infrastructure investments.
The fund would be distributed to cover various infrastructure upgrade projects over the period of the next 10 years, on both the waterside and the landside.
In a hearing titled America’s Water Infrastructure Needs and Challenges, to be held on January 10, Port of Cleveland President and CEO William Friedman will testify before the US Senate Committee on Environment and Public Works (EPW).
Friedman’s testimony will focus on issues related to navigation infrastructure maintenance, rehabilitation and replacement, at America’s public ports.
“AAPA is looking forward with great anticipation to a focus on America’s infrastructure investment needs by the Trump Administration and Congress in 2018,” Kurt Nagle, AAPA President and CEO, said.
Seaport cargo activity accounts for 26 percent of US GDP and generates over USD 320 billion annually in federal, state and local tax revenues.