Transforming NYC rail infrastructure for a better freight distribution system
Andrew Genn, Senior Vice President of the Ports & Transportation Department at the New York City Economic Development Corporation (NYCEDC) provides an overview of Freight NYC, a $100 million plan to modernise New York’s freight distribution system which includes strategic investments to modernise rail assets.
New York has long been a pioneer in supply chain management. Decades before the creation of interstate highways, North America’s largest city created innovative transportation technology, introducing steamboats, Clipper Ships, inland canals and railroads. This complex system evolved into a highly sophisticated urban distribution network with lighterage barges and railroad car floats; this helped make New York the world-class port city it is today.
But now, New York’s supply chain is at a crossroads. This critical infrastructure, which served the city well in the past, is not equipped to handle the exponential population growth and increased consumer demand it has already begun to see. New York is expected to reach a population of nine million by 2040, and the gross municipal product of the city and immediate region is equivalent to Australia’s gross domestic product. Its consumer market is the largest in North America and now worth roughly $1.5 trillion. To remain the greatest city in the world, New York needs the world’s strongest supply chain.
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