Trading Our Way to a Vital Economy Michael E. Smith, Ph.D. - PowerPoint PPT Presentation

Trading Our Way to a Vital Economy Michael E. Smith, Ph.D. Department Head and Kimmel Endowed Professor Construction Management Western Carolina University (828) 227-3697 mesmith@wcu.edu Saturday, August 24, 13

We Need to Remember the Scots Saturday, August 24, 13

We Need to Remember the Scots Saturday, August 24, 13

We Need to Remember the Scots • Trade is critical to a vital economy. • We need to preserve and extend activities that promote economic exchanges beyond the region... key to trade and economic vitality! • We need to link local networks to the global economy. Saturday, August 24, 13

We Need to Remember the Scots • Trade is critical to a vital economy. • We need to preserve and extend activities that promote economic exchanges beyond the region... key to trade and economic vitality! • We need to link local networks to the global economy. Saturday, August 24, 13

Importance of Your Work • Economic vitality requires trade. • Trade requires access to broader economies. • Access requires logistics. • Always has.... • ...And always will! Saturday, August 24, 13

Connection! • Not just the national economy! • Vitality in the future requires that we be connected to the global economy. • Connection presents a virtuous cycle, but lack of connection brings a vicious cycle. • Businesses, future (opportunity) and present (business risk). Saturday, August 24, 13

WNC is Somewhat Unique • Different from the rest of the State. • Substantial differences within the Region. • Impacted by events and activity in surrounding jurisdictions. Saturday, August 24, 13

Risk Uncertainty Future orientation Damage, or failure to obtain potential benefit Product of Probability and Detriment Saturday, August 24, 13

Transportation-Based Risk to Firms Uncertainty drives risk: Cost Availability Performance Of linkages to other regions! Saturday, August 24, 13

Meeting Regional Needs • Connecting to the National economy • ADHS • Connecting to the global economy • Intermodal • Connections to sea ports • Deal with elements of the Perfect Storm • Recognize distinct nature of the Region • Address capital limitations • Coordinate across political boundaries Saturday, August 24, 13

Global Competitiveness Saturday, August 24, 13

The Second Pillar of Global Competitiveness... Infrastructure Saturday, August 24, 13

Saturday, August 24, 13

The North Carolina Report Card Saturday, August 24, 13

The North Carolina Report Card Saturday, August 24, 13

North Carolina Infrastructure TOP CONCERNS: 1. ROADS (C) 2. BRIDGES (C-) > 45% OF NORTH CAROLINA’S MAJOR ROADS ARE IN POOR OR MEDIOCRE CONDITION. >30% OF NORTH CAROLINA’S BRIDGES ARE STRUCTURALLY DEFICIENT OR FUNCTIONALLY OBSOLETE (5,488 BRIDGES). Saturday, August 24, 13

Importance of Options Saturday, August 24, 13

Importance of Options Saturday, August 24, 13

Importance of Options Saturday, August 24, 13

Importance of Options Saturday, August 24, 13

Importance of Options Saturday, August 24, 13

Importance of Options Saturday, August 24, 13

Variation in Transportation Infrastructure Saturday, August 24, 13

Rail Issues Saturday, August 24, 13

Murphy Gap Saturday, August 24, 13

Saluda Grade Saturday, August 24, 13

Regional View--Existing and Developing Inland Container Ports Saturday, August 24, 13

Key Observations • Failure to move forward presents the risk of economically crippling the region. • Challenges in moving freight quickly, predictably and cost effectively must be overcome. • WNC is relatively isolated from sea ports, and freight flows are sharply disparate from flows in other regions. Saturday, August 24, 13

Implications • Planning and execution of freight initiatives in WNC must be coordinated with other initiatives within the State, but • WNC initiatives must not be subordinated to more general efforts. • To be effective in WNC, initiatives must adopt a distinctive nature. Saturday, August 24, 13

Useful Undertakings • Regional Awareness • Regional efforts at coordination of freight flows • Regional freight authority • Freight consolidation centers • Complete the ADHS • Consider feasibility of rail service over corridors currently out of service • Coordinate across political boundaries Saturday, August 24, 13

Thank You! Questions or Comments ? Saturday, August 24, 13