In contemplating the most important changes I expect in our industry during 2009, the one word that comes to mind is “recovery.” Perhaps that is a result of what my world has been like over the past three months since Hurricane Ike delivered its disastrous blow to Galveston Island. Recovery has certainly become the biggest focus of daily life, both professionally and personally, during this time. But further discussion on Hurricane Ike will wait for a future essay.
Given the current state of our country’s economy, combined with the condition of our nation’s transportation infrastructure, “recovery” is something we should all be concerned with. Our nation’s surface transportation system is at a critical juncture. New infrastructure needs to be built to serve our nation’s changing demographics and shifting trade patterns. While port landside access clearly falls into this category, let us not forget that our nation’s navigable waterways are also a critical part of this infrastructure network.
Port authorities continue to face urgent challenges in providing modern facilities that will allow the U.S. to compete within the global economy. The continued lack of adequate funding levels in the federal budget to maintain authorized water depths in the federal channel network compromises the economic viability of these required investments. In today’s economic climate, private financing of facility improvements requires a sound business plan and a reliable financial model. If federal funding levels for dredging do not increase, port authorities will continue to be challenged to provide adequate cash flow to construct critically needed facilities.
The incoming administration has identified the need to rebuild our nation’s infrastructure. I hope that in 2009, yes, we can find common ground, work together and recover our nation’s waterways as part of this effort to rebuild our nation’s infrastructure to allow our nation’s economy to grow, prosper and compete within the global marketplace.