AAR study shows freight railroads greatly impact national, local economies
This report is said to be the first of its kind to quantify the sweeping impact of investments by Class I railroads with U.S. operations on the overall economy.
The Association of American Railroads (AAR), Washington, D.C., released its second "State of the Industry Report"of 2016, featuring new research from Towson University's Regional Economic Studies Institute (RESI), Towson, Md.
The study 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. This report is said to be the first of its kind to quantify the sweeping impact of investments by Class I railroads with U.S. operations on the overall economy.