Highlighting the need for Congress to pass President Obama’s American Jobs Act proposals to create jobs and invest in the nation’s infrastructure, Treasury Secretary Tim Geithner on Monday, Sept. 26, toured UPS’s international air hub and met with local business leaders in Louisville, Ky.
“One of the most important parts of the president’s American Jobs Act is to put people to work right now rebuilding America’s infrastructure,” Geithner said. “In order to be as productive and efficient as possible, American businesses need the foundation of a strong, reliable, modern infrastructure – and that means they need government to do its part. Investing in infrastructure creates good middle-class jobs and helps our economy run at its full potential, which keeps us competitive and helps lower costs for businesses and consumers alike.”
UPS said Geithner’s visit highlighted the value government investment in 21st century infrastructure provides by increasing productivity and efficiency in the economy and strengthening the competitiveness of American businesses. UPS estimates that a five-minute daily delay for every UPS vehicle costs the company $100 million annually.
UPS said that with more than 137,000 flights worldwide in 2010, and more than 31,000 of those from the Worldport facility, the cost of routine flight delays and traffic congestion have a significant effect on the company’s bottom line.
“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 Davis, UPS chairman and chief executive officer.
