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

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

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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

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SLIDE 1

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

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SLIDE 2

We Need to Remember the Scots

Saturday, August 24, 13

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SLIDE 3

We Need to Remember the Scots

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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

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SLIDE 5

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

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SLIDE 6

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

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SLIDE 7

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

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SLIDE 8

WNC is Somewhat Unique

  • Different from the rest of the State.
  • Substantial differences within the

Region.

  • Impacted by events and activity in

surrounding jurisdictions.

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SLIDE 9

Risk

Uncertainty Future orientation

Damage, or failure to obtain potential benefit

Product of Probability and Detriment

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Transportation-Based Risk to Firms

Uncertainty drives risk:

Cost Availability Performance Of linkages to other regions!

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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

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Global Competitiveness

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The Second Pillar of Global Competitiveness... Infrastructure

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SLIDE 14

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The North Carolina Report Card

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The North Carolina Report Card

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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).

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Importance of Options

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Importance of Options

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Importance of Options

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SLIDE 21

Importance of Options

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Importance of Options

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Importance of Options

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SLIDE 24

Variation in Transportation Infrastructure

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Rail Issues

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Murphy Gap

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Saluda Grade

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Regional View--Existing and Developing Inland Container Ports

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Key Observations

  • Failure to move forward presents the risk
  • f economically crippling the region.
  • Challenges in moving freight quickly,

predictably and cost effectively must be

  • vercome.
  • WNC is relatively isolated from sea

ports, and freight flows are sharply disparate from flows in other regions.

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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.

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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

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SLIDE 32

Thank You!

Questions or Comments?

Saturday, August 24, 13