Freight Rail Instrumental for Washington State's Trade-Dependent Economy, study released
Freight rail adds $28.5 billion to Washington's economy each year, according to a new economic impact assessment conducted by a leading economist.
"Washington's prosperity depends on trade and freight rail is a critical link that gives the state a competitive edge over other regions," according to the study's author, Dr. Philp J. Romero. "It is nearly impossible to overstate the benefit of rail transportation to Washington's economy. Everything from airplane fuselages to frozen vegetables to consumer goods are moving to and from Washington by rail, thus helping to drive the state's economy forward."
The Washington Council on International Trade (WCIT) and BNSF Railway commissioned Romero to conduct a comprehensive and independent evaluation of the economic impact of freight rail in Washington.
Romero served as the chief economist for two governors of California and the Rand Corporation. He is currently a professor of Business Administration at the University of Oregon and a contributor to publications including the Wall Street Journal and other national publications and broadcasters.