Biggest Economic Impacts of Freight Rail Shipping
Freight rail shipping in the USA drives our economy. Each year the freight rail system in the USA is responsible for driving billions into our economy and supporting countless businesses through its network. This is particularly true for local industries that are able to produce and ship products faster across the USA. Here are some of the largest economic impacts that the freight rail industry in the USA provides:
Over 1 million US jobs:
The freight rail industry supports over 1 million jobs in the United States. These are well-paying, stable jobs for Americans, maintaining the network, helping to ship goods and products, and keeping our economy moving. The railway jobs go on to support countless businesses, retail chains, and other economic activities.
Increased productivity for local industries:
Freight rail allows local industries to produce products faster and with higher quality. This is because freight railroads offer a more efficient way to transport goods across the country. This increased productivity leads to higher wages for workers and more tax revenue for local governments. These railway connections form proper supply lines between suppliers and manufacturers and offer a lifeline between producers and consumers. The efficiency of the rail network has ensured more Americans turn towards local products rather than opting for imports.
Billions in tax revenue:
Freight railroads offer considerable tax revenue. In fact, the freight rail industry pays billions of dollars in taxes each year. This money goes towards repairing and improving our infrastructure, funding schools and other public services, and supporting our economy. $16.7 billion each year comes from the rail industry, and that goes directly into impacting communities and their infrastructure across the USA.
As we continue to innovate in the railway industry, we will see more positive steps for our economic future. Freight rail still represents one of the most efficient and environmentally friendly ways to move goods across the country. As we continue to invest in this infrastructure, we will see even more benefits for our economy.
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