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U.S. Treasury Secretary visits Worldport to discuss nation’s infrastructure

Highlighting the need for Congress to pass U.S. President Barack Obama’s American Jobs Act proposals to create jobs and invest in our nation’s infrastructure, U.S. Treasury Secretary Tim Geithner recently toured UPS’s Worldport facility. Also on the agenda was a roundtable meeting with local business leaders, including CEO Scott Davis.

“If our businesses are to grow and create jobs, if our economy is to climb decisively and swiftly out of its stagnant hole, we and our leaders need to be practical. In the transportation business, that means finding a way to keep our infrastructure from unraveling,” said Scott.

On a daily basis, UPS carries approximately six percent of the U.S. Gross Domestic Product (GDP) and two percent of the world’s GDP in our network. Our business depends on a comprehensive strategy for infrastructure investment, which in turn, depends on government action.

Secretary Geithner and UPS CEO Scott Davis at Worldport“I am encouraged that both the President and Congressional leaders are working to develop bipartisan solutions to put people back to work, modernize and create an interconnected transportation system of ports, rails, roadways and runways, create jobs by expanding access to overseas markets for businesses large and small and reform America’s tax system so we can get this economy moving again,” said Scott.

As a company that interfaces with almost every facet of the country’s transportation system, we believe there needs to be immediate short term investment as well as long term planning to maintain and grow our transportation system.

“Moving goods by truck is eight times more efficient than by air, and rail is four times more efficient than trucking. Ships are the most efficient of all but ports are congested,” said Scott during an interview with the Financial Times in August. “The United States is not going to be competitive with the rest of the world if we don’t have the proper infrastructure. The way we’re going to have jobs is by growing and exporting. We need to be able to compete with the developing world, but we can’t unless we have the infrastructure.”

Earlier this month, President Obama sent to Congress the American Jobs Act, which creates jobs and cuts taxes for middle-class Americans. The President’s plan addresses the problem of our nation’s crumbling infrastructure while putting hundreds of thousands of workers back on the job with a strategy that combines immediate investments in infrastructure with innovative reforms to ensure that the best projects get financing.

For additional information on the American Jobs Act’s proposals to put Americans back to work while rebuilding and modernizing our infrastructure, see the White House fact sheet.

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