Impact on New Hampshire's Economy
The efficiency of New Hampshire’s transportation system, particularly its highways, is critical to the health of the state’s economy. Businesses depend on an efficient and reliable transportation system to move products and services. A key component in business efficiency and success is the level and ease of access to customers, markets, materials and workers.
- Every year, $31 billion in goods are shipped annually from sites in New Hampshire and another $32 billion in goods are shipped annually to sites in New Hampshire, mostly by truck.
- Sixty-three percent of the goods shipped annually from sites in New Hampshire are carried by trucks and another 27 percent are carried by courier services, which use trucks for part of the deliveries. Similarly, 76 percent of the goods shipped to sites in New Hampshire are carried by trucks and another 17 percent are carried by courier services.
- Commercial trucking in New Hampshire is projected to increase 31 percent by 2020.
- Based on federal projections, TRIP estimates that commercial trucking will increase by 31 percent in NH by 2020.
The efficiency of New Hampshire’s transportation system, particularly its highways, is critical to the health of the state’s economy. Businesses depend on an efficient and reliable transportation system to move products and services. A key component in business efficiency and success is the level and ease of access to customers, markets, materials and workers.
- New Hampshire has also experienced significant economic growth since 1990. From 1990 to 2008, New Hampshire’s gross domestic product (GDP), a measure of the state’s economic output, increased by 53 percent, when adjusted for inflation.
- New Hampshire travelers spent $4.4 billion in our restaurants, hotels, B&Bs, attractions and events in 2008. The more than 69,000 ambassadors employed in the hospitality industry throughout New Hampshire greeted these travelers.
- American businesses are paying an estimated $22 billion of the annual economic cost of motor vehicle crashes involving their employees in which roadway condition is a contributing factor. This includes almost $10 billion a year in health-related fringe benefit expenses for insurance ($6.0 billion) workers’ compensation claims ($1.2 billion), sick leave ($1.7 billion) and Social Security ($920 million). These crashes cost government (taxpayers) at all levels $12.3 billion.
- Businesses have responded to improved communications and greater competition by moving from a push-style distribution system, which relies on low-cost movement of bulk commodities and large-scale warehousing, to a pull-style distribution system, which relies on smaller, more strategic and time-sensitive movement of goods.
- Increasingly, companies are looking at the quality of a region’s transportation system when deciding where to re-locate or expand. Regions with congested or poorly maintained roads may see businesses relocate to areas with a smoother, more efficient transportation system.
The Key Role of Construction in New Hampshire's Economy
(Source: Ken Simonson, Chief Economist, AGC of America)
