The new FAA bill cut funding for the AIP, which will cripple our airport infrastructure – rapid investment is critical
PRINCIPATO ‘12 - president, Airports Council International-North America; M.A. in International Relations from University of Chicago; International Trade and Transportation specialist, Hunton & Williams (Greg, “Why we should invest today in 'Airports Inc.'”. March. http://thehill.com/blogs/congress-blog/labor/218525-faa-why-we-should-invest-today-in-airports-inc)
With the latest Federal Aviation Administration (FAA) forecast predicting a doubling of passengers and cargo by 2030, the current funding system is not up to the job of ensuring airports will have the infrastructure they need to handle such dramatic increases in traffic.
This will have far-reaching consequences. Commercial airports are powerful economic engines, generating 10.5 million jobs and $1.2 trillion for the U.S. economy, according to a new Airports Council International-North America study. Across the country, workers and businesses count on local airports to attract investment and move people and goods around the world. Since 2001, the total number of jobs associated with airports has increased by more than 50 percent.
Despite unprecedented growth and clear evidence of the economic benefits of infrastructure investments, airports expect to have $80 billion in unmet needs through 2015 because of the flawed system used to pay for infrastructure projects.
That has not always been the case. Airports generated millions of jobs and trillions of dollars for local communities between 2001 and 2010 because President Bill Clinton and Congress made two decisions to improve airport infrastructure planning and investment in 2000.
The first decision allowed local communities to raise more money to finance…...