Transportation infrastructure funding yields nearly $200 billion in economic activity and creates 700,000 jobs each year for the state of California, according to a new report from the American Road & Transportation Builders Association (ARTBA).
In the next 10 years, government investments in California’s transportation infrastructure will grow from $40.4 billion in 2021 to $52.6 billion in 2030. That means that every $1 spent on infrastructure in California creates $4.30 in economic activity, ARTBA said in a press release.
“With California so dependent on transportation infrastructure, our research shows that investment in roads, bridges, and transit systems clearly yields significant benefits, helping underwrite the Golden State’s continuing economic expansion,” ARTBA Chief Economist Dr. Alison Premo Black, who conducted the research, said in a statement.
The release of “The Economic Impacts of Highway, Street, Bridge, & Transit Investment in California” is accompanied by the launch of a new, searchable online database that breaks down the economic benefits of infrastructure spending in every California county.
According to ARTBA, California highway, street, bridge, and transit investment will support $200 billion in annual benefits over the next decade.
The economic activity is driven by construction spending as well as expenditures on transit operations, planning and design work, right-of-way purchases, construction support, administration, and research, ARTBA says. A breakdown of how transportation infrastructure investment will benefit economic activity can be found on ARTBA's website.