Federal Investment Ramps Up New Orleans Exports, Says White House
The Obama Administration investment in the Port of New Orleans has helped increase exports by 140 percent since 2009, making it one of the fastest growing U.S. regions for exports, said a Nov. 8 White House fact sheet released in…
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preparation for President Obama’s visit to the port. The upgraded port facilities enabled 62 million tons of goods, such as corn, wheat and coal, to pass through the Port of New Orleans in 2012, said the fact sheet. Despite that progress, there remains much work to be done, it said. The U.S. currently spends 50 percent fewer federal funds on infrastructure improvement than in 1960, the fact sheet said. The current infrastructure expenditure is roughly 2 percent of Gross Domestic Product, it said. Obama has proposed $50 billion in immediate infrastructure investment, said the fact sheet, to expand on other infrastructure improvement efforts.