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1、RAIL SUPPLYINDUSTRY:MANUFACTURING AND SERVICES KEEPINGTHE AMERICAN ECONOMY ON TRACKJANUARY 20231Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackSPONSORSPrimary Sponsor:Supporting Sponsors:Railway Engineering-Maintenance Suppliers Association(REMSA)was created in
2、1965 by the merger of the Association of Track and Structure Suppliers and the National Railway Appliances Association,two long-standing organizations in the railroad maintenance-of-way industry.The association represents companies and individuals who manufacture or sell maintenance-of-way equipment
3、,products,and services,or are engineers,contractors and consultants working in construction and/or maintenance of railroad transportation facilities.REMSA members constitute a large part of the maintenance-of-way industry.The association sponsors the largest exhibit of maintenance-of-way equipment,p
4、roducts and services in the United States.REMSA members exhibit rail and track products,track maintenance equipment and services,safety devices and software that enables the railroad industry to work smarter.The Railway Tie Association(RTA)was organized in 1919.Predecessor groups,dating back to the
5、late 1800s,including The National Association of Railroad Tie Producers,were formed to support the railroad tie industry and to preserve forests through conservation.The Association is involved in all aspects of the crosstie industry and ongoing activities such as sound forest management,timber reso
6、urce conservation,timber processing,wood preservation,sustainability,recycling,industry economics and statistics,and worker safety.The purpose of the RTA is to keep wood crosstie markets strong and sustainable.The Railway Supply Institute(RSI)is the largest and only trade association that represents
7、 the full supply chain for the railroad system.Our members build and maintain the vast majority of the freight and passenger rail cars and locomotives running on the U.S.railway system today.RSI member companies also maintain the rails,invest in green technologies to reduce GHG emissions as well as
8、systems and signalling so that people and goods get to where they are going more efficiently.We share best practices and develop standards to improve reliability and safety.Finally,a segment of our membership lease freight rail cars to some of the biggest industries in the world(chemical,oil and gas
9、,agriculture,building material and automotive).In short,RSI members impact most of the U.S.economy.3Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackTABLE OF CONTENTSExecutive summary1.Introduction2.Overview of the rail supply industry2.1 Understanding the industr
10、y2.2 Defining the rail supply industry for the economic impact modeling3.National economic impacts3.1 GDP impact3.2 Employment impact3.3 Labor income impact3.4 Tax contribution4.State-level economic impacts5.Impact of Covid-19 on outlook6.ConclusionAppendix A:MethodologyAppendix B:State-level impact
11、s3325262729333739435Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackThe rail supply industrythe businesses behind the rail transportation industry that provide the necessary goods and services to keep the US railroad network runningplays an essential a
12、nd powerful role in driving in the United States economy.In 2020,the rail supply industry directly employed almost 240,000 workers,who directly contributed$27.7 billion of value-added economic activity(GDP)across the US.But this direct economic activity is only part of the industrys full economic fo
13、otprint.Rail suppliers enable the rail transportation industry to operate by manufacturing railcars and locomotives,and critical rail infrastructure such as signals,rail ties,and railway maintenance equipment.Key segments of the rail supply industry include:Railcar(“rolling stock”)manufacturers,whic
14、h build the passenger,freight,locomotives and other railcars that travel on the nations rails;Railcar lessors,which own and lease much of the rolling stock in operation;Rail parts manufacturers;Maintenance-of-way specialists,which manufacture the specialty tools used to keep the rail network running
15、;and Rail tie manufacturers,which make the mostly wooden rail ties that support the metal rails,and which require regular inspection and replacement.Rail suppliers also deliver secondary benefits that other modes of transportation cannot,such as reductions in road congestion,highway fatalities,fuel
16、consumption,greenhouse gases,cost of logistics,and public infrastructure maintenance costs.This report,commissioned by The Railway Supply Institute(RSI)and supported by the Railway Engineering-Maintenance Suppliers Association(REMSA)and the Railway Tie Association(RTA)was prepared by Oxford Economic
17、s,and examines the economic contribution that the rail supply industry makes to US GDP,employment,and tax revenues.EXECUTIVE SUMMARY6Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackTHE ECONOMIC IMPACT OF THE US RAIL SUPPLY INDUSTRY In 2020,the US rail supply indu
18、strys total economic impact was$75.8 billion of GDP,682,426 jobs,$49.0 billion of labor income,and$15.5 billion in taxes.These numbers combine the direct,indirect,and induced contributions of the sectors activities.The direct contribution measures the GDP and employment of all business operations of
19、 the rail supply industry.In 2020,the rail supply industrys direct contribution was$27.7 billion of output and 239,272 jobs.The indirect contribution measures the output and employment in the domestic supply chain that supports the rail supply industry.Rail suppliers purchase components,parts,and se
20、rvices from other companies,thus forming the supply chain.Rolling stock manufacturers,for example,purchase wheelsets from manufacturers of industrial wheels and train control and signaling systems from communications equipment manufacturers.They also purchase supporting services such IT or accountin
21、g.In 2020,the rail supply industrys indirect contribution to the US economy was$22.2 billion of output and 191,071 jobs.The compensation paid to workers in the rail supply industry and its supply chain results in additional household spending.This additional spending supports additional output and j
22、obs in different sectors of the economy.The induced contribution measures the output and employment supported by the spending of the workers from the rail supply industry and its supply chain.In 2020,the rail supply industrys induced contribution to the US economy was$25.9 billion of output and 252,
23、082 jobs.As the$75.8 billion total GDP footprint is 2.7 times the$27.7 billion GDP of the railway system itself,the GDP multiplier of the rail supply industry is 2.7.This means that every$100 of value-added output in the rail supply industry leads to$170 of additional value-added output in other ind
24、ustries due to the production in the supply chain and employee spending impact.This multiplier is similar to that of rail transportation,retail gasoline stores,and air transportation industries.The rail supply industry has a jobs multiplier of 2.9.This means that every job in the rail supply industr
25、y supports 1.9 jobs in other industries.This puts it ahead of other US industries such as machine shops,truck transportation,and ferrous metal foundries.Each percentage point increase in the penetration rate is forecast to add an extra 26,200 jobs in the formal sector by 2020.$75.8bnTotal GDP impact
26、 of theUS rail supply industry in 2020.682,426 jobsTotal employment impact of theUS rail supply industry in 2020.7Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackTotalInducedIndirectDirect27.7239,27219.022.2191,07114.925.9252,08215.175.8682,42649.0GDP(US$,billion
27、s)EmploymentLabor income(US$,billions)$91,263Average employee compensationin the rail supply industry.34%higher than the national average.The high number of induced jobs is the result of the above-average compensation in the rail supply industry.The average compensation in the rail supply industry i
28、s$91,263 per year,which is 34%higher than the national average across all industries($67,872).The rail supply industry contributes to the economies of all 50 states,but it had the greatest impact in Texas($9.0 billion in GDP and 77,536 jobs),followed by California($6.2 billion in GDP and 45,104 jobs
29、),and Illinois($5.7 billion in GDP and 46,908 jobs).The direct,indirect,and induced economic activity supported by the rail supply industry generated over$15.5 billion in taxes at all levels of government in 2020.This number can be further divided into$6.9 billion paid in federal taxes and$8.6 billi
30、on paid in state and local taxes.Each job created as a result of the economic activity of the rail supply industry generated about$22,720 in additional tax revenue.Fig.1:Summary of rail supply industry impactsSource:Oxford Economics8Rail Supply Industry:Manufacturing and Services Keeping the America
31、n Economy on TrackCovid-19 EffectsThe Covid-19 pandemic severely impacted the rail transportation industry.The temporary shock to the US economy reduced activity in the freight rail industry,which largely depends on demand in major commodity industries,such as coal,cereal grains,basic chemicals,and
32、gravel.Rail equipment demand,in turn,largely depends on demand for freight rail services.Prior to the Covid-19 pandemic,the volume of rail freight exhibited strong growth in 2017-2018,averaging about 4.5%per year.This decreased during the pandemic in 2019-2020 before picking up again in 2021.For con
33、text,after a dip in both rail transportation industry output and its operating expenditure during the Covid-19 pandemic in 2020 both measures showed a rebound in 2021 by 11.2%and 11.8%respectively.Capital investment,however,can be lumpier and demand for rail supply products and services have yet to
34、pick up after the Covid-induced downturn.Forecasts by FTR Transportation Intelligence show North American railcar deliveries expected to increase from a low of just under 30,000 in 2021 to just over 40,000 in 2023.As the US economy recovers from the impact of Covid-19,the rail transportation industr
35、y is set for a rebound that will fuel demand for railroad rolling stock and other rail supply industry products and services that will continue to deliver both economic and social benefits across the country.UNITED STATESTHE ECONOMIC IMPACT OF RAILWAY SUPPLIERSTOTAL IMPACT SUMMARYGDP$75.78 billionJo
36、bs682,426Tax contribution$15.50 billionLabor income$49.02 billionIndirect jobs 191,071Induced jobs 252,083Direct jobs 239,273Direct impacts represent the economic activity(jobs,GDP)taking place at rail suppliers themselves.Indirect impacts represent the economic activity in rail suppliers supply cha
37、ins.Induced impacts represent the economic activity supported as direct and indirect employees spend their wages on consumer goods.682,426 jobsSUPPORTED IN THE USTOTAL RAILWAY SUPPLY JOB IMPACT BY INDUSTRY IN THE US150K100K50K0Agriculture&MiningHealth,Education,&GovernmentEntertainment&Other Service
38、sManagement&Administrative ServicesFinance,Insurance,&Real EstateInformation&Professional ServicesAccommodation&Food ServicesTrade&TransportationManufacturingConstruction&Utilities9+50+54+85+23+50+65+46+31+41Source:Oxford Economics,IMPLAN136,650Miles of rail in the US$15.50 billionTax contribution w
39、ithin the US in 2020$8.61 billionState/local$6.89 billionFederalAverage annual compensation of direct employees in the US railway supply industry in 2020$91,300By comparison,the average employee compensation in the US was$67,900.The railway supply industry helps to power the US economy.2020 CONTRIBU
40、TION TO US GDP$75.78 billion2.9 jobsTotal jobs supported throughout the US economy for every direct job in the nations railway supply industryThe Jobs multiplier shows how many total jobs(direct+indirect+induced)in the economy are supported for each direct job.Total jobs+Direct jobs11Rail Supply Ind
41、ustry:Manufacturing and Services Keeping the American Economy on Track1.INTRODUCTIONWith 150,000 route kilometers,the US freight rail network is the longest in the world(Fig.2).1 It is also the worlds third busiest system,after only China and Russia,transporting 2.1 billion tonne-kilometers of goods
42、 in 2020,(Fig.3).While the US passenger rail system is not particularly large by international standards(Fig.4),the US freight rail network is widely considered the largest,safest,and most cost-efficient in the world.2 Together,US freight and passenger rail3 operations make up the rail transportatio
43、n industry,which in 2020 employed approximately 177,000 direct employees and produced$74 billion in industry output(rail transportation services).4 The focus of the current report,however,is not the rail transportation industry itself,but the rail supply industrythe industry behind the rail transpor
44、tation industry,which supplies the goods and services upon which US rail transportation depends.While the rail transportation industry is clearly delineated in government statistics,5 the rail supply industry includes parts of the outputs of many different industries which are used by the rail trans
45、portation industry.Railway suppliers play an essential role in supporting the rail system by:Producing the railroad rolling stock that travels along the nations rail tracks;Making the tracks themselvesmanufacturing the metal rails and the wooden or concrete ties on which they are set,as well as the
46、construction services involved in installing them;Producing the signaling and communications infrastructure that runs alongside the tracks;and Making the myriad other goods and services that are purchased by the rail transportation industry as operational and capital expenditures,and that keep the n
47、ations rail transportation system running smoothly and safely.1 This internationally comparable figure from the World Bank is lower than the estimate of 136,650 miles(220,000km)of tracks estimated by the American Association of Railroads(AAR“Freight Rail in Your State”https:/www.aar.org/data-center/
48、railroads-states/),likely due to definitional differences in the coverage of the two estimates.2“Freight Rail Overview,”Federal Railroad Administration,accessed December 15,2022.3 This includes intra-urban rail systems,like subways and streetcars.4 Source:IMPLAN,based on government data.5 It is clas
49、sified as North American Industrial Classification System(NAICS)code 482,under the transportation and warehousing sector.See https:/www.census.gov/naics/.3332282120USA(2018)Russia(2019)India(2019)China(2019)Canada(2018)Germany(2019)Brazil(2007)France(2018)Ukraine(2018)South Africa(2017)02
50、04060800km(thousands)Source:World Bank,Oxford EconomicsFig.2:Top 10 national freight rail systems by route length,most recent available year12Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackAs part of this work,Oxford Economics surveyed rail supply ind
51、ustry firms that are members of the industrys major associations:RSI(Rail Supply Institute,which represents a variety of rail suppliers including rolling stock manufacturers and freight rail car lessors);REMSA(Railway Engineering-Maintenance Suppliers Association,which represents suppliers of mainte
52、nance of way equipment);RTA(Railway Tie Association,which represents the makers of the mostly wooden ties which support the metal rails of railroad tracks);and RSSI(Railway Systems Suppliers,Inc.,which represents manufacturers of communications and signaling infrastructure),In this report,commission
53、ed by The Railway Supply Institute(RSI)as an update to our 2018 report on the same topic,6 Oxford Economics calculates the full economic impact of the rail supply industry on national and state economies in terms of GDP,employment,and taxes revenues supported.The reference year throughout is 2020the
54、 most recently available year of data when this work was undertaken.The full economic impact includes the sum of the activities taking place in the rail supply industry itself(the direct impact),the economic activity in the rail suppliers supply chain(the indirect impact),and activity supported by t
55、he spending of workers out of wages(the induced impact).The survey results were used to help break out the state-level economic impacts,and to validate the national industry results.Chapter 2 of this report describes and defines the rail supply industry.This definition enables estimation of the indu
56、strys impact(chapter 3)in terms of jobs,GDP and taxes.Chapter 4 presents these results at a state level.Chapter 5 looks at recent trends in the rail and rail supply industries.Chapter 6 presents concluding thoughts.Appendix A provides a technical methodology,and appendix B presents detailed state-le
57、vel impact tables.6 Oxford Economics(October 2018).“Tracking the Power of Rail Supply:The Economic Impact of Railway Suppliers In the U.S.”https:/ A discusses the differences between results from the old report and those presented in this report.13Rail Supply Industry:Manufacturing and Services Keep
58、ing the American Economy on Track1,4711,7959282412China(2019)India(2017)Japan(2020)Korea(2019)France(2021)Russia(2020)Germany(2020)Italy(2021)UK(2020)USA(2020)02004006008001,0001,2001,4001,600Billion person-km3.02.52.10.70.50.40.30.20.10.1China(2019)Russia(2020)USA(2020)India(2017)Austral
59、ia(2021)Canada(2021)Kazakhstan(2020)Ukraine(2020)Germany(2021)Mexico(2021)0123Trillion tonne-kmFig.3:Top 10 national freight rail systems by weight-distance transported,most recent available yearsFig.4:Top nine national passenger rail systems and USA by passenger-distance transported,most recent ava
60、ilable yearsSource:OECD,Oxford EconomicsSource:OECD,Oxford Economics15Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track2.OVERVIEW OF THE RAILSUPPLY INDUSTRY2.1 UNDERSTANDING THE INDUSTRYThe rail supply industry comprises the output of goods and services used by th
61、e rail transportation industry.There is no formal definition of which sectors constitute the rail supply industry.According to the Railway Supply Institute(RSI),the rail supply industry broadly includes rolling stock manufacturers,railcar lessors,and railroad operations(maintenance and communication
62、s&signaling),and manufacturers of rail parts.Other sources,such as International Rail Organization UNIFE,provide similar segmentation.Rolling stock is an umbrella term that denotes anything on rail wheels that can move on a railway.This includes locomotives,rail cars,and all other vehicles with stee
63、l wheels that can be used on railroad tracks.Rolling stock manufacturers produce locomotives and different types of railcars,such as box cars,hoppers,gondolas,flat cars,and tank cars.Rolling stock suppliers make parts used by rolling stock manufacturers,such as brakes,lighting,and seats needed to bu
64、ild railcars and locomotives.Other specialty rail supply industries include railroad maintenance,and communications&signaling.Railroad maintenance involves checking railroad tracks for missing or damaged ties,damaged rails,and obstructions such as fallen trees and disabled trains.These procedures ar
65、e performed with the use of specialized equipment such as hi-rail vehicles,electronic detection equipment,and handheld devices.The communications&signaling sector builds railroad crossing systems and other systems that direct railway traffic.Manufacturers of rail parts produce pieces necessary for b
66、uilding railroad tracks.Important components of railroad tracks are rail crossties,joint bars,and fasteners.Rail crossties are rectangular wooden pieces that are located between two rail tracks.Their primary purpose is to keep the correct distance of the gauge.Joint bars are metal bars that join two
67、 rails together.Fasteners connect rails and base plates with rail ties and rail crossties.2.2 DEFINING THE RAIL SUPPLY INDUSTRY FOR THE ECONOMIC IMPACT MODELINGFor the purpose of the economic impact modeling in this report,the results of which are presented in chapters 3 and 4,we define the rail sup
68、ply industry to comprise the sum of three categories of economic activity,with care taken to avoid double-counting the overlap between them:The railroad rolling stock manufacturing industry(subsection 2.2.1);The capital expenditures of the rail transportation industry(subsection 2.2.2);and The opera
69、tional expenditures of the rail transportation industry(subsection 2.2.3).These three segments of the rail supply industry,which are inclusive of the specialty rail supply segments described in section 2.1 above,are described in the following three subsections.Subsection 2.2.4 consolidates the total
70、 output of the rail supply industry across the three segments.16Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track2.2.1 Railroad rolling stock manufacturingUnlike the other two segments of the rail supply industry discussed below,the railroad rolling stock manufact
71、uring industry is a standard industry classification in government statistics.7 The industry definition includes:Manufacture of vehicles that travel on rails,including:-Locomotives,-Freight railcars-Passenger railcars,including inter-city and urban transport cars-Other specialty rail vehicles,such a
72、s mining cars and track maintenance-of-way equipment Manufacture of rolling stock-specific parts,such as wheels and brakes8 Major rebuilds of railcars.Data from the Annual Survey of Manufacturers(ASM)shed light on the composition of the rolling stock industrys output in 2020.As shown in Fig.5,the la
73、rgest share of the industrys output was new and rebuilt locomotives(30%),while parts and accessories made up 22%of industry output,and new freight and passenger cars 20%.Fig.5:Output of the railroad rolling stock industry,2020Source:ASM,Oxford Economics30%22%20%14%6%8%Locomotives,new&rebuilt Railcar
74、 parts&accessoriesNew freight&passenger carsRailcar rebuilds&maintenanceNon-railcarrailway equipmentOther 7 It is classified as NAICS 33658 General parts used in rolling stock manufacturing as well as other industries,such as sheet metal or ball bearings,would be classified under the relevant indust
75、ries that produce them.Only the manufacture of parts specific to railroad rolling stock are classified under the rolling stock industry.17Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track$11.2 billion(excluding same-industrysales)$0$2$4$6$8$10$12$billionsCapex by
76、railtransport$2.6 billionCapex by otherindustries$6.8 billion Exports$1.3 billionRail transport opex$0.3 billionOther industries opex&government$0.1 billionRolling stock mfg.opex$0.4 billion Fig.6 presents the end uses of the$11.5 billion of railroad rolling stock output purchased in 2020.This const
77、itutes the rolling stock inputs to the economic impact modeling presented in chapter 3.The bulk of rolling stock output,$9.4 billion or 82%,was purchased by various industries as capital expenditures.Of this,we estimate that only about$2.6 billion was purchased by the rail transportation industry it
78、self.9 In fact,much of the rolling stock that is transported by the US rail transportation industry is not owned by rail transportation industry itself.Some of the additional equipment is owned by the industries whose goods are being transportedan oil or chemical producer,for example,might own some
79、of its own tank railcars.The largest share of railcars,however,is owned by railcar lessors,who lease their vehicles to shippers of finished goods and raw materials,charging rental fees for this service.This structure simplifies the accounting when a railcar is transferred between the networks of the
80、 major rail carriers and contributes to the high efficiency of the US freight rail network.Fig.6:End uses of railroad rolling stock,2020Source:IMPLAN,Oxford Economics9 This estimate is based on data on the capital expenditures of the rail transportation industry,which are presented in subsection 2.2
81、.2 below.Government data provide little detail on the detailed makeup of industries capital expenditures,making it difficult to quantitatively profile which industries purchase railroad rolling stock,although as the text makes clear,a major purchaser is the commercial and industrial machinery and eq
82、uipment rental and leasing industry,NAICS 5324.18Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackThere are approximately 1.6 million railcars in the US.Approximately two-thirds of these are owned by leasing companies,while the remaining one-third are owned by rai
83、lroads or private shippers.The leasing market for railcars has been increasing over time.Full-service lessors are responsible for the maintenance and repairs of freight railcars along with the modifications necessary to meet government and industry safety requirements.After capital investment,the la
84、rgest share of the remainder of rolling stock sales,$1.3 billion or 11%,is sold as foreign exports.10 The final$0.8 billion of 2020 rolling stock to other industries as intermediate inputs,which is to say as those industries operational rather than capital expenditures.11 Of this,most was sold eithe
85、r to the rail transportation industry($0.3 billion)or to the railroad rolling stock manufacturing industry itself($0.4 billion).Note that this final share,sold by firms in the railroad rolling stock industry to other firms in the same industry,needs to be discounted in the economic impact calculatio
86、ns to avoid double-counting.1210 These exports are included in the definition of,and therefore the economic impact of,the rail supply industry presented in this report.Note,however,that other US exports besides rolling stock that are purchased for use by foreign rail systemstrack signaling equipment
87、,for exampleare not captured,because they cannot be similarly identified in government statistics.11 A small amount,$33 million,was sold to government as a final use rather than as an intermediate input to further production.12 More precisely,the economic impacts of the railroad rolling stock indust
88、ry are calculated as an“economic contribution”rather than an“economic impact,”because they constitute 100%of the industry,so subsequent purchases of the same industrys output would double-count this output.Appendix A provides additional details on the distinction between economic impact and economic
89、 contribution.1.6m railcarsTwo-thirds of these are ownedby leasing companies.Full-service lessors are responsible for the maintenance and repairs of freight railcars along with the modifications necessary to meet government and industry safety requirements19Rail Supply Industry:Manufacturing and Ser
90、vices Keeping the American Economy on TrackSource:ACES(Census),BEA Investment in Fixed Assets,Oxford Economics2.2.2 Capital expenditures of the rail transportation industryRail transportation is a highly capital-intensive industry.The rail network,as well as the rolling stock fleet,require continuou
91、s investment to maintain and upgrade capacity,and to keep the system operating safely and efficiently.According to the Annual Capital Expenditures Survey(ACES),13 in 2020,the rail transportation industry made$12.5 billion in capital investments in new(as opposed to used)structures and equipment.14 T
92、his is equivalent to approximately 17 cents out of each revenue dollar that year.15 Of this,$9.3 billion was spent on structures,mostly investments in track infrastructure.The remaining$3.1 billion16 was spent on equipment,of which we estimate that$2.6 billion was spent on railroad rolling stock(mat
93、ching the total presented in Fig.6 above),and$0.5 billion on information and communications equipment.17 Because the investment in railroad rolling stock is already accounted for under rolling stock in section 2.2.1 above,it is excluded here,leaving$9.9 billion of additional rail transportation indu
94、stry capital expenditures as inputs to the economic impact modeling(Fig.7).Fig.7:Rail transportation capital expenditures,2020$9.9 billion(excludingrolling stock)$0$2$4$6$8$10$12$14$BillionsTrack&structures$9.3 billionInformation&communicationequipment$2.6 billionRolling stock$2.6 billion13 Generall
95、y,capital expenditures reflect investments in fixed assets whose lifespan exceeds one year,excluding consumer durables.For the ACES survey,the Census Bureau defines capital expenditures to“include all expenditures during the year for both new and used structures(excluding land)and equipment chargeab
96、le to asset accounts for which depreciation amortization accounts are ordinarily maintained.”(https:/www.census.gov/programs-surveys/aces/about/faq.html.)Note that we exclude capital expenditures on used structures and equipment as these do not generate an economic impact in terms of jobs and GDP in
97、 the reference year.14 The American Association of Railroads(AAR)has estimated that,between 1980 and 2021,freight railroads spent nearly$760 billion on railroad capital investments.This estimate incorporates data from the financial statements of publicly traded railroads.See https:/www.aar.org/issue
98、/freight-rail-investments.Similar to our other data inputs,which are sourced,through IMPLAN,from government statistical surveys;in this study,we use data from the ACES,as described in the text.15 Based on industry revenue of approximately$74 billion,(source:IMPLAN).16 Totals do not add due to indepe
99、ndent rounding.17 The structures vs.equipment breakout is given in the ACES,while the breakout between rolling stock and information and communications equipment is based on data in the Bureau of Economic Analysis(BEA)Investment in Fixed Assets.See Appendix A for additional details.20Rail Supply Ind
100、ustry:Manufacturing and Services Keeping the American Economy on Track$35.2 billion(excludingrolling stock)$0$5$10$15$20$25$30$35$40$billionsFinancial services$8.1 billionPetroleum products$5.6 billionLeasing services$4.8Business services$2.7 billionTransportationsupport$2.2 billionConstruction$2.1
101、billionTrade services$2.0 billionMetal parts$1.3 billionLumber$1.3 billionIT$1.3 billionOther$3.7 billionRolling stock$0.3 billion 2.2.3 Operational expenditure of the rail transportation industryWhen it comes to day-to-day operational spending by the rail transportation industry,the bulk of the$35.
102、5 billion of expenditure in 2020 came from service industries to keep the network running(Fig.8).18 This included$8.1 billion on financial services,$2.7 billion on business services(e.g.accounting,legal,etc.),and$2.2 billion on transportation support services.A total of$4.8 billion was spent on leas
103、ing services,reflecting the key role of railcar lessors to the industry,discussed in section 2.2.1.Other spending on key rail supply industry sectors include$1.3 billion spent on lumber,the bulk of which was used for railroad ties,and$0.3 billion on railroad rolling stock(likely parts).Note that,as
104、operational expenditures,these likely reflect maintenance costs associated with tracks and railcars,rather than capital investments on major track work or new railcar purchases.As with capital expenditures in section 2.2.2,for the purposes of defining the rail supply industry,we exclude the$0.3 bill
105、ion of operational expenditures spent on railroad rolling stock purchases to avoid double-counting with the railroad rolling stock spending presented in 2.2.1.This leaves$35.2 billion of operational expenditures that contribute to our definition of the rail supply industry for the economic impact mo
106、deling.19 Fig.8:Operational expenditure of the rail transportation industry,2020Source:IMPLAN,Oxford Economics18 The BEA defines operational expenditures,under the title of“intermediate inputs,”as“goods and services that are used in the production process of other goods and services and are not sold
107、 in final-demand markets.”(https:/www.bea.gov/help/glossary/intermediate-inputs.)19 Source:IMPLAN,based on government data.21Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track$56.1 billion$0$10$20$30$40$50$60$billionsRolling stock sales$11.1 billionRail transport c
108、apex$9.9 billionRail transport opex$35.9 billion20 As described in section 2.2.1,spending by entities other than the rail transportation industry on railroad rolling stock is included in our industry definition.This includes purchases by other industries,including the railcar leasing industry,govern
109、ment purchases,and foreign exports.2.2.4 Rail supply industry totalThe total spending by the rail transportation industry and others,20 which constitutes the definition of the rail supply industry purchases used in the economic impact modeling,totaled$56.1 billion in 2020(Fig.9).This comprises$11.1
110、billion in rolling stock purchases,$9.9 billion in rail transport capital expenditures,and$35.2 billion in operational expenditures,after removing any double counting.This spending constitutes the inputs to the economic impact modeling of the rail supply industry,the results of which are presented i
111、n chapters 3 and 4.Fig.9:Total rail supply industry economic modeling inputs,excluding double-counting,2020Source:Oxford Economics22Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track3.NATIONAL ECONOMIC IMPACTSThis chapter presents the economic impacts of the rail s
112、upply industry,including the direct(the activity of the industry itself),indirect(supply chain activity),and induced(economic activity supported by the spending of direct and indirect employees out of wages)impacts.The box on the following page provides an overview of economic impact methodology.App
113、endix A provides additional technical detail about the rail supply industry economic impact methodology.3.1 GDP IMPACTCombining all channels of impactdirect,indirect(supply chain),and induced(wage spending)the rail supply industry contributed$75.8 billion to US GDP in 2020,equivalent to about 0.4%of
114、 the total US GDP.For comparison if the railway supply industry were represented as a US state,the industry would rank as the 44th largest state ahead of Rhode Island and just behind Maine.The direct GDP impact of the rail supply industry was$27.7 billion,or 36.5%of the total GDP impact.This number
115、represents the value-added economic activity of the rail supply establishments themselves.Another way to describe the direct GDP contribution is the difference between the total output(or revenue)of the rail supply industry and the total value of the intermediate goods and services used in productio
116、n.The indirect GDP impact of the rail supply industry was$22.2 billion,or 29.3%of the total GDP impact.This number represents the value-added economic activity of the supply chain of the rail supply industry.The supply chain of the rail supply industry consists of producers of sheet plates,nuts,bolt
117、s,etc.The induced GDP impact of the rail supply industry was$25.9 billion,or 34.2%of the total GDP impact.This number represents the value-added economic activity supported by the spending of workers employed directly by the rail supply industry or its supply chain.Fig.10:GDP impact of the rail supp
118、ly industry,2020Source:Oxford Economics,IMPLAN$27.7$27.7$22.2$22.2$25.9$25.9007080DirectIndirectInducedTotal$75.8$billions23Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackAN INTRODUCTION TO OUR ECONOMIC IMPACT ANALYSISThe input-output model follows th
119、e flow of spending through the economy.The model captures and quantifies the impact of the economic activity of the rail supply industry on supply chains,consumer spending,economic leakages,and taxes paid to federal,state and local governments.The economic impacts of the rail supply industry are mea
120、sured through three channels:Direct Impact:Economic activity in the rail supply industry itself.Indirect Impact:Economic activity in the full supply chain of the rail supply industry.Induced Impact:Economic activity resulting from direct and indirect workers spending their wages in the broader econo
121、my.Total Impact:the sum of direct impact,indirect impact,and induced impact.The model captures the inter-industry relationships,consumer spending,and ripple effects that result from the economic activity of the rail supply industry.The economic impact is measured in terms of:GDP:Value-added economic
122、 activity.Employment:Total jobs,measured on a headcount basis,including both wage and salary workers and the self-employed.Labor income:Total compensation(including the cost benefits)for these workers.Taxes:Total taxes generated by the direct,indirect,and induced economic activity.Source:Oxford Econ
123、omicsTOTALIMPACTINDUCEDIMPACTEmployees(including of the suppliers)spend their wages in the wider economy,generating more GDP,jobs and tax revenues.Added together,these three inducedcomprise the total economic impact of the company or sector.INDIRECTIMPACTIt also spends money with generate GDP and pa
124、y taxes.They use other suppliers in turn.DIRECTIMPACTand tax for the authorities.Fig.11:Channels of impact24Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackThe GDP multiplier for the rail supply industry in 2020 is 2.721.This means that every$100 of value-added o
125、utput in the rail supply industry leads to an additional$170 of value-added output in other industries due to the production in the supply 6.294.954.162.792.742.682.642.561.87Fiber,yarn,and thread millsBlind and shade manufacturingOil and gas extractionRail transportationRail supplyRetail-Gasoline s
126、toresAir transportationIron ore miningAbrasive product manufacturingchain and employee spending impact.This multiplier is similar to that of rail transportation,retail gasoline stores,and air transportation industries.Fig.12:GDP multiplier in the rail supply industry compared to other industries,202
127、0Source:Oxford Economics,IMPLANFig.13:Employment impact of the rail supply industry,2020Source:Oxford Economics,IMPLAN239,272239,272191,071191,071252,083252,0830100,000200,000300,000400,000500,000600,000700,000800,000DirectIndirectInducedTotalHeadcount682,42621 The GDP multiplier measures how the ch
128、ange in GDP in one industry translates into the change in GDP in the economy as a whole.The GDP multiplier is calculated as the ratio of total GDP impact($75.8 billion)to direct GDP impact($27.7 billion).25Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track22 The jo
129、bs multiplier shows how the creation or destruction of employment in one industry translates into a change in employment in the economy.The jobs multiplier is calculated as the ratio of total jobs supported to direct jobs.3.2 EMPLOYMENT IMPACTThe total employment impact of the rail supply industry i
130、n 2020 was 682,426 jobs.This includes 239,272 jobs in the rail supply industry itself(direct contribution),191,071 jobs in the supply chain of the rail supply industry(indirect contribution),and 252,082 jobs created as a result of employees from the rail supply industry and its supply chain spending
131、 their wages in the economy(induced contribution).Fig.13 summarizes these contributions.The large,induced employment contribution is in part a result of the high average compensation in the rail supply industry(see Fig.17).The rail supply industry has a jobs multiplier of 2.922.This means that every
132、 job in the rail supply industry supports 1.9 jobs in other industries.This puts it ahead of other US industries such as machine shops,truck transportation,and ferrous metal foundries.Looking at the breakout of the total employment impact by industry sector,the greatest impact of the rail supply ind
133、ustry on employment is in trade&transportation industry(19%of all jobs),followed by finance,insurance&real estate(14%of all jobs),and manufacturing(12%of all jobs).Fig.14:Jobs multiplier in the rail supply industry compared to other industries,2020Source:Oxford Economics,IMPLAN8.377.045.122.872.852.
134、822.622.571.63Federal electric utilitiesAircraft manufacturingMetal mining servicesMetal heat treatingRail supplyFerrous metal foundriesTruck transportationMachine shopsVeterinary services127,31898,20580,68975,67874,83169,06061,12646,64235,01113,866Trade&transportationFinance,insurance&real estateMa
135、nufacturingInformation&professional servicesConstruction&utilitiesManagement&administrative servicesHealth,education&governmentEntertainment&other servicesAccommodation&food servicesAgriculture&miningFig.15:Total rail supply employment impact by industry,2020Source:Oxford Economics,IMPLAN26Rail Supp
136、ly Industry:Manufacturing and Services Keeping the American Economy on Track3.3 LABOR INCOME IMPACTThe total labor income contribution of the rail supply industry in 2020 was$49.0 billion.This represents the total compensation(including both wages and salaries as well as other forms of compensation
137、like health and retirement benefits)received by workers in each of the three channels of impacts,including by self-employed workers.The direct(in the rail supply industry itself)2020 labor income impact was$19.0 billion.The indirect(supply chain)labor income impact was$22.2 billion.The induced labor
138、 income impact was$15.1 billion(Fig.16).The average compensation of direct employees in the rail supply industry itself in 2020 was$91,263 per year,which is 34%higher than the national average across all industries($67,872).As with the labor income figures presented above,this value represents total
139、 compensation,including the value of benefits such as health and retirement programs;however,it only includes direct employees,and excludes self-employed workers in all the industries presented.Fig.16:Labor income impact of the rail supply industry,2020Fig.17:Average employee compensation by select
140、industries,2020Source:Oxford Economics,IMPLANSource:Oxford Economics,IMPLAN$19.0$19.0$22.2$14.9$15.1$15.060DirectIndirectInducedTotal$49.0$billions$93,059$92,703$91,263$89,818$86,214$67,872$65,653$62,632Malt manufacturingGlass container manufacturingRail supplyMotor and generator manufact
141、uringHeavy duty truck manufacturingNational averageBoat buildingTruck trailer manufacturing27Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track3.4 TAX CONTRIBUTIONThe direct,indirect,and induced economic activity supported by the rail supply industry generated over
142、$15.5 billion in taxes at all levels of government in 2020.This number can be further divided into$6.9 billion paid in federal taxes and$8.6 billion paid in state and local taxes.This is equivalent to about$22,720 in tax revenue for each of the 682,426 jobs supported by the economic activity of the
143、rail supply industry.Fig.18:Tax contribution of the rail supply industry,2020Source:Oxford Economics,IMPLAN6.98.6$billionsFederal TaxesState andLocal Taxes29Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackThe previous section showcases the nationwide contribution
144、 of the rail supply industry to GDP and employment.Even though rail suppliers operate in all 50 states,the impacts are distributed differently across states.Fig.19 presents a map of the US rail network,showing that the concentration of rail lines is not evenly distributed through the country,and ins
145、tead is concentrated in the Midwest and Great Plains states down to Louisiana and Texas,as well as in the Southeast.This distribution of the rail network helps provide context for the state-level rail supply impacts presented in this chapter,although other factors(such as the concentration of major
146、rail supplying industries)also affect this distribution.4.STATE-LEVEL ECONOMIC IMPACTSFig.19:US rail network map,202123 Source:Oxford Economics,IMPLAN23 Source:TigerLine File for US Rail 2021(https:/www2.census.gov/geo/tiger/TIGER2021/RAILS/).30Rail Supply Industry:Manufacturing and Services Keeping
147、 the American Economy on TrackStateTexasCaliforniaIllinoisPennsylvaniaNew YorkGDP contribution$9.0 billion$6.2 billion$5.7 billion$5.3 billion$4.3 billionJobs supported 77,53645,10446,90846,04427,684Oxford Economics conducted an original survey of RSI,REMSA,RTA,and RSSI members to help estimate the
148、impact of the rail supply industry by state.Regionally,railway suppliers had the largest presence in the Midwest region,followed by the Southwest region and the Middle Atlantic region.The top five states(Texas,California,Illinois,Pennsylvania,and New York)in terms of GDP contribution(Fig.21)accounte
149、d for 40%of rail supply impact nationwide.In terms of employment impacts(Fig.22),these same top five states accounted for 36%of the national impacts:Texas benefitted most as rail suppliers contributed$9.0 billion in GDP and 77,536 in jobs;California was second with$6.2 of total GDP contribution and
150、45,104 jobs;Illinois was third with$5.7 billion of total GDP contribution and 46,908 jobs;Pennsylvania followed with$5.3 billion of total GDP contribution and 46,044 jobs;and New York was fifth with$4.3 billion of GDP contribution and 27,684 jobs.Fig.20:Economic impacts in top five states,2020Source
151、:IMPLAN,Oxford Economics31Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track3,9983,6384,4916,68 74,8053,6055,9126,8682,9915,6496,5741,3031,6095,3402,4999109,3888,4399,98710,5089,29714,48014,0059,45211,69314,29510,85714,0249,13112,55312,44513,36512,67611,54412,6768,
152、16814,98817,95218,52022,69519,61727,68424,59716,69318,19177,53645,10446,90846,044 Employment 333-6,868 6,869-14,988 14,989-27,684 27,685-77,5363337877877870.40.40.40.40.30.60.50.20.50.10.20.40.10.30.70.81.11.00.70.80.91.41.01.31.41.41.31.20.81.11.21.00.70.81.61.51.81.81.62.61.82.71.91.81.99.06.25.74
153、.35.3 GDP,billion$0.0-0.6 0.7-1.4 1.5-2.7 2.8-9.00.00.1Fig.21:Total GDP impact by state,2020Fig.22:Total employment impact by state,2020Source:Oxford Economics,IMPLANSource:Oxford Economics,IMPLAN33Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track700,000800,000900
154、,0001,000,0001,100,0001,200,000Jan-17Apr-17Jul-17Oct-17Jan-18Apr-18Jul-18Oct-18Jan-19Apr-19Jul-19Oct-19Jan-20Apr-20Jul-20Oct-20Jan-21Apr-21Jul-21Oct-21Jan-22Apr-22Jul-22The economic impacts presented in chapters 3 and 4 are all benchmarked to 2020the most recently available data when this report was
155、 undertaken.This was also,however,an unusual year,both for the US economy as a whole as well as for the rail transportation industry in particular,due to the Covid-19 pandemic.Activity in the freight rail transportation industry is largely dependent on demand in major commodity industries that are m
156、ost dependent on freight rail services,such as coal,cereal grains,basic chemicals,and gravel.24 Sector activity also broadly reflects trends in the US economy.Fig.23 shows the effects that the Covid-19 pandemic had on activity in the freight rail transportation industry,with monthly carloads falling
157、 from 1.1 million as recently as summer 2019 to 800,000 at the peak of the pandemic,before recovering to about 1.0 million by the end of 2020a level it has remained at through September 2022.Activity in the rail supply industry is largely driven by activity in the rail transportation industry,among
158、other key factors.Demand for rail equipment is,therefore,closely related to the demand for freight shipment.The volume of rail freight exhibited strong growth in 2017-2018,averaging about 4.5%per year.It decreased during the pandemic in 2019-2020 but picked up again in 2021.A moderate growth averagi
159、ng under 2%per year is expected for the next few years.25 As Fig.23 shows,after a dip in both rail transportation industry output and its operating expenditure during the Covid-19 pandemic in 2020 both measures showed a rebound in 2021 by 11.2%and 11.8%respectively.5.IMPACT OF COVID-19ON OUTLOOK24 S
160、ee,for example,US DOT FWA Freight Management and Operations:Rail Commodities Moved.”https:/ops.fhwa.dot.gov/publications/fhwahop16083/ch1.htm#ch1.8.25 Forecast by FTR Transportation Intelligence(“Rail Equipment Outlook:North American Railcar Markets 2022-Q2”).26 Downloaded from FRED(https:/fred.stlo
161、uisfed.org/).Variable RAILFRTCARLOADSD11.Fig.23:Monthly rail freight carloads,seasonally adjusted26Source:Federal Reserve Economic Data34Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track88.481.574.678.484.883.074.182.418.224.920.017.515.011.59.87.245.438.235.537.7
162、43.339.337.041.4$0$10$20$30$40$50$60$70$80$90$100US$billions2002020016Rail transportation industry outputRailroad rolling stock productionRail transportation opexWhile high selling prices and slow freight growth may lead to a slowdown of demand for rail equipment in the next fe
163、w years,demand in the first half of 2022 was strong.Despite a moderate near-term outlook,the rail supply industry remains a key player in the US economy.However,investments in capital expenditures,including the purchase of railroad rolling stock(the majority of which is purchased as capital investme
164、ntsee Fig.6),can also be lumpy,and lag industry activity.This may help explain why railroad rolling stock production continued to fall from 2020 to 2021,from$9.8 billion to$7.2 billion,even as the overall output of the rail transportation sector rose from$74 to$82 billion(Fig.24).The decline in rail
165、road rolling stock output continues a longstanding trend going back to 2015.Remarkably,railroad rolling stock industry output,a key component of the rail supply industry,has declined 71%from its high of nearly$25 billion of output in 2015 to$7.2 billion in 2021.Fig.24:Trends in rail transportation o
166、utput and opex and rolling stock output,Source:IMPLAN,Oxford Economics27 Note that the“total rail supply spend”here sums the three components of spend discussed in chapter 2,but does not go through the de-duplicating procedures used there.Note too that what is shown here for railroad roll
167、ing stock is industry annual production,whereas Fig.6 shows annual railroad rolling stock sales in 2020.The difference is largely accounted for by sales out of inventory.35Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track67,22882,29662,43344,96350,80358,02633,4172
168、9,28038,79340,21536,62520002020224010,00020,00030,00040,00050,00060,00070,00080,00090,000RailcarsRailcar DeliveriesForecastWith the rebound in the rail transportation industry in 2021,demand for railroad rolling stock,along with the other segments of the rail supply
169、industry,is expected to pick up over the next few years.Generally,demand for new railroad rolling stock can be calculated as the sum of replacement units needed plus estimated new units.Demand for new units is derived from demand for freight.Demand for replacement rolling stock can be estimated usin
170、g the life expectancy and average age of existing rolling stock.On average,life expectancy for railroad rolling stock is 40 to 60 years.In 2020,the average age of freight rail cars was 19.6 years,and the average age of locomotives was 28.1 years.28 For freight rail cars,FTR Transportation Intelligen
171、ce estimates a replacement rate of about 2%in the next few years.For locomotives,a replacement rate is expected to be higher due to the age of the existing fleet.FTR Transportation Intelligence forecasts North American railcar deliveries to increase from a low of just under 30,000 in 2021 to just ov
172、er 40,000 in 2023.Fig.25:North American railcar deliveries outlook,2007-2024Source:FTR Transportation Intelligence28 Railway Age(April 11,2022)“Heavyweights Dominate.”https:/ Railinc,a subsidiary of AAR.36Rail Supply Industry:Manufacturing and Services Keeping the American Economy on Track37Rail Sup
173、ply Industry:Manufacturing and Services Keeping the American Economy on TrackThe rail supply industry serves a critical role in the efficient operation of the rail transportation sector by producing rail equipment and infrastructure and providing maintenance and repair services.Freight rail is one o
174、f the major industries in the US economy as it transports more long-distance freight than any other mode of transportation.However,consistent investment in maintaining rail infrastructure and updating the fleet is needed to ensure that rail transport can meet demands for freight transportation in th
175、e next decade of economic growth.In addition to enabling functioning of the rail transportation industry,the rail supply industry made its own impact on national and state economies in 2020.For this report,the rail supply industry was defined as the sum of three categories of economic activity:the r
176、ailroad rolling stock manufacturing industry,the capital expenditures of the rail transportation industry,and the operational expenditures of the rail transportation industry.While the direct contribution by the rail supply industry in 2020 is hugely significant,with a GDP contribution of$27.7 billi
177、on in output and employing almost 240,000 workers,its impact on the US economy goes much further than that.Combining all channels of impactdirect,indirect(supply chain),and induced(wage spending)the rail supply industry contributed$75.8 billion to US GDP in 2020.It supported more than 680,000 worker
178、s in a range of sectors and locations across the US.These workers employed in the industry are paid 34%more than the average across a range of industries.This economic activity generated$15.5 billion in federal,state,and local taxes.While the rail supply industry operates in all 50 states,40%of its
179、economic activity was concentrated in five states:Texas,California,Illinois,Pennsylvania,and New York.As the US economy recovers from the impact of Covid-19,the rail transportation industry is set for a rebound that will fuel demand for railroad rolling stock and other rail supply products and servi
180、ces that will continue to deliver both economic and social benefits across the country.6.CONCLUSION39Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackThe inputs to the economic impact modeling are summarized in chapter 2.The principles behind the economic impact c
181、alculations are summarized in Fig.10 on page 22.Impacts were calculated using IMPLAN economic impact software.29 IMPLAN is an industry-standard tool that collates government economic data from a variety of sources and streamlines economic impact calculations across different geographies.The national
182、 results presented in chapter 2 are based on an IMPLAN model built on the inputs presented in Fig.9.Both the rail transportation opex and capex spending were modeled as commodity purchase events.The railroad rolling stock impact was modeled as a contribution event,which suppresses any additional sup
183、ply chain purchases of railroad rolling stock either in the supply chain of rolling stock production,or in the opex or capex spending.The precise makeup of the rail transportation industrys opex spending by commodity type(which is summarized in Fig.8)was sourced directly from IMPLAN in its 536 indus
184、try and commodity coding system.The capex spending values from the Annual Capital Expenditures Survey were classified into three high-level categories of spend based on the BEAs Investment in Fixed AssetsDetailed Data for Fixed Assets and Consumer Durable Goods data.30 Fig.7 presents this three-cate
185、gory breakout into:track and structures,information and communication equipment,and railroad rolling stock.As described in the text,the railroad rolling stock capex was dropped from the capex spend to avoid double-counting,while the other two categories were aligned with IMPLAN commodity codes.The n
186、ational-level impacts presented in chapter 3 were broken into state-level impacts by running 51 separate state-level(including DC)models in IMPLAN.Each of these models was constructed as a Multi-Regional Input Output(MRIO)model with two regions:one for the state in question,and one for the rest of t
187、he country.The national model inputs described above were split by state based on the results of our original survey of rail supply industry firms,and based on IMPLAN state-level industry data and inter-state trade data.The sum of state-level results was scaled to match the results from the national
188、 modeling.APPENDIX A:METHODOLOGY 29 See .30 See https:/apps.bea.gov/national/FA2004/Details/Index.htm.40Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackCOMPARISON WITH 2018 REPORTThis report is an update to Oxford Economics 2018 report“Tracking the Power of Rail
189、Supply:The Economic Impact of Railway Suppliers in the U.S,”31 which estimated the economic impact of the rail supply industry for reference year 2016.The methodology for that report is presented in its Appendix A.Fig.26 compares the core economic impact results between the current report and that 2
190、018 report.Fig.26:Comparison of rail supply industry economic impacts between the current report and its 2018 predecessorSource:Oxford EconomicsThe total estimated economic impact of the rail supply industry was similar between the two reports,whether measured in terms of employment(a 5%increase)or
191、GDP(a 2%increase in nominal terms).Decomposing these changes in total impacts between the three channels of impact(direct,indirect,and induced),however,shows larger changes in the makeup of these impacts.The generally larger direct impacts in the current report relative to the 2018 report reflect th
192、e somewhat broader definition of the rail supply industry adopted in the current report(the previous report did not consider the capital expenditures of the rail transportation industry),as well as changes in the economic structure of the rail supply industry itself.The generally smaller indirect im
193、pacts in the current report reflect changes in the underlying industry,including declines in the output of railroad rolling stock(see Fig.24),as well as methodological changes in the impact calculation.The induced impacts were more similar in scale between the two reports,as these are driven by dire
194、ct and indirect labor income,which were similar($29.4 billion in 2016$in the 2018 report versus$33.9 billion in 2020$in the current report).31 See https:/ current)Labor income($billions current)Source Current report2018 reportDiferenceCurrent report2018 reportDiferenceCurrent report2018 reportDifere
195、nceReference year20202016 20202016 20202016 Total682,426650,00032,426$75.8$74.2$1.6$49.0$43.4$5.6Direct239,272125,100114,172$27.2$19.9$7.3$19.0$9.9$9.1Indirect191,071252,100-61,029$22.2$29.8-$7.6$14.9$19.5-$4.6Induced252,082272,100-20,018$25.9$24.6$1.3$15.1$14.1$1.0Rail Supply Industry:Manufacturing
196、 and Services Keeping the American Economy on TrackAPPENDIX B:STATE-LEVEL IMPACTSFig.27:State-level impacts of the rail supply industry,2020United StatesGDP(millions$)Employment Income(millions$)Taxes(millions$)AlabamaGDP(millions$)Employment Income(millions$)Taxes(millions$)AlaskaGDP(millions$)Empl
197、oyment Income(millions$)Taxes(millions$)ArizonaGDP(millions$)Employment Income(millions$)Taxes(millions$)ArkansasGDP(millions$)Employment Income(millions$)Taxes(millions$)CaliforniaGDP(millions$)Employment Income(millions$)Taxes(millions$)ColoradoGDP(millions$)Employment Income(millions$)Taxes(milli
198、ons$)ConnecticutGDP(millions$)Employment Income(millions$)Taxes(millions$)Direct27,674239,27319,030Direct5145,518368Direct3831526Direct2852,778208Direct3904,611265Direct1,94413,5421,270Direct3523,403271Direct2691,715204Indirect22,221191,07114,870Indirect4344,401280Indirect2318414Indirect2402,347158I
199、ndirect3343,444206Indirect1,85013,3531,216Indirect3222,744234Indirect1521,136103Induced25,882252,08315,115Induced3484,105196Induced2928917Induced3243,314190Induced2372,803131Induced2,36718,2091,339Induced4514,361267Induced3102,490181Total75,778682,42649,01615,405Total1,29614,024844256Total907875717T
200、otal8498,439556170Total96010,857601215Total6,16145,1043,8251,327Total1,12510,508771225Total7315,340489167Total4462,49921372Total2621,59217343Total1,82819,6171,166382Total2,59322,6951,510482Total31333197Total3914,80527488Total5,69446,9083,6611,166Total1,80118,1911,181363Total8709,452585181Total1,5041
201、4,005973310Total8349,131541185Total1,35412,445787249Total2472,99117159Total7556,574480170Total1,0408,168698214Total1,22912,676851236Total1,59814,4801,074236Total5296,868339120Total1,84418,5201,188363Total7459,388523176Total1,76017,9521,162372Total3833,63823092Total1691,60911532Total1,88614,9881,2414
202、63Total3733,99822291Total4,30127,6842,637872Total1,36012,553810251Total5985,912396118Total2,71124,5971,641484Total8329,297565167Total1,0199,987726206Total5,25146,0443,7041,043Total939105921Total1,05711,544726232Total3463,60522969Total1,29613,365887263Total8,97477,5365,9471,726Total7426,687437126Tota
203、l1031,3037424Total1,85616,6931,174403Total1,59211,693958371Total4935,649337117Total1,37314,295932286Total4044,49125698GDP,Income,and Taxes:US$,2020;Employment:number of peopleRail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackDelawareGDP(millions$)Employment Income(
204、millions$)Taxes(millions$)District of ColumbiaGDP(millions$)Employment Income(millions$)Taxes(millions$)FloridaGDP(millions$)Employment Income(millions$)Taxes(millions$)GeorgiaGDP(millions$)Employment Income(millions$)Taxes(millions$)HawaiiGDP(millions$)Employment Income(millions$)Taxes(millions$)Id
205、ahoGDP(millions$)Employment Income(millions$)Taxes(millions$)IllinoisGDP(millions$)Employment Income(millions$)Taxes(millions$)IndianaGDP(millions$)Employment Income(millions$)Taxes(millions$)IowaGDP(millions$)Employment Income(millions$)Taxes(millions$)KansasGDP(millions$)Employment Income(millions
206、$)Taxes(millions$)KentuckyGDP(millions$)Employment Income(millions$)Taxes(millions$)LouisianaGDP(millions$)Employment Income(millions$)Taxes(millions$)MaineGDP(millions$)Employment Income(millions$)Taxes(millions$)MarylandGDP(millions$)Employment Income(millions$)Taxes(millions$)MassachusettsGDP(mil
207、lions$)Employment Income(millions$)Taxes(millions$)MichiganGDP(millions$)Employment Income(millions$)Taxes(millions$)MinnesotaGDP(millions$)Employment Income(millions$)Taxes(millions$)MississippiGDP(millions$)Employment Income(millions$)Taxes(millions$)MissouriGDP(millions$)Employment Income(million
208、s$)Taxes(millions$)MontanaGDP(millions$)Employment Income(millions$)Taxes(millions$)NebraskaGDP(millions$)Employment Income(millions$)Taxes(millions$)NevadaGDP(millions$)Employment Income(millions$)Taxes(millions$)New HampshireGDP(millions$)Employment Income(millions$)Taxes(millions$)New JerseyGDP(m
209、illions$)Employment Income(millions$)Taxes(millions$)New MexicoGDP(millions$)Employment Income(millions$)Taxes(millions$)New YorkGDP(millions$)Employment Income(millions$)Taxes(millions$)North CarolinaGDP(millions$)Employment Income(millions$)Taxes(millions$)North DakotaGDP(millions$)Employment Inco
210、me(millions$)Taxes(millions$)OhioGDP(millions$)Employment Income(millions$)Taxes(millions$)OklahomaGDP(millions$)Employment Income(millions$)Taxes(millions$)OregonGDP(millions$)Employment Income(millions$)Taxes(millions$)PennsylvaniaGDP(millions$)Employment Income(millions$)Taxes(millions$)Rhode Isl
211、andGDP(millions$)Employment Income(millions$)Taxes(millions$)South CarolinaGDP(millions$)Employment Income(millions$)Taxes(millions$)South DakotaGDP(millions$)Employment Income(millions$)Taxes(millions$)TennesseeGDP(millions$)Employment Income(millions$)Taxes(millions$)TexasGDP(millions$)Employment
212、Income(millions$)Taxes(millions$)UtahGDP(millions$)Employment Income(millions$)Taxes(millions$)VermontGDP(millions$)Employment Income(millions$)Taxes(millions$)VirginiaGDP(millions$)Employment Income(millions$)Taxes(millions$)WashingtonGDP(millions$)Employment Income(millions$)Taxes(millions$)West V
213、irginiaGDP(millions$)Employment Income(millions$)Taxes(millions$)WisconsinGDP(millions$)Employment Income(millions$)Taxes(millions$)WyomingGDP(millions$)Employment Income(millions$)Taxes(millions$)Direct27,674239,27319,030Direct5145,518368Direct3831526Direct2852,778208Direct3904,611265Direct1,94413,
214、5421,270Direct3523,403271Direct2691,715204Direct2811,004121Direct13982294Direct5896,479407Direct1,0477,704602Direct101216Direct1551,996121Direct2,05016,3281,387Direct6356,624461Direct3714,130286Direct7085,922479Direct3383,668234Direct5974,689331Direct861,12070Direct2712,273190Direct3762,957265Direct
215、3633,869291Direct5614,959409Direct2112,912154Direct7397,181504Direct3174,077245Direct8018,115583Direct1561,482102Direct3939633Direct6334,720433Direct1711,919115Direct1,7529,4971,063Direct5244,167305Direct2832,837211Direct9618,000596Direct2873,464223Direct3383,252273Direct1,73414,4461,403Direct282771
216、9Direct3834,214315Direct1621,614114Direct4554,832339Direct2,82922,6041,894Direct2932,225175Direct3652331Direct6776,029486Direct6244,319389Direct2172,490166Direct4464,784345Direct2112,351147Indirect22,221191,07114,870Indirect4344,401280Indirect2318414Indirect2402,347158Indirect3343,444206Indirect1,85
217、013,3531,216Indirect3222,744234Indirect1521,136103Indirect6450536Indirect6133241Indirect5525,767363Indirect7056,395442Indirect7755Indirect1111,30878Indirect1,65412,9201,104Indirect5795,303373Indirect2412,379153Indirect3843,656255Indirect2442,584161Indirect4173,787268Indirect6580346Indirect1531,28510
218、2Indirect2481,746172Indirect3943,697271Indirect4273,611291Indirect1752,110109Indirect5074,882334Indirect2022,409138Indirect4384,361287Indirect9892561Indirect4037328Indirect4323,339306Indirect10595555Indirect1,0466,674688Indirect4073,952264Indirect1531,26089Indirect8107,013509Indirect2952,873197Indir
219、ect3243,062236Indirect1,71213,9921,179Indirect2119514Indirect3603,644237Indirect7880652Indirect3863,801267Indirect3,15724,5302,270Indirect2131,988131Indirect2733119Indirect4974,205325Indirect4203,038265Indirect1311,38786Indirect4234,118289Indirect1061,08665Induced25,882252,08315,115Induced3484,10519
220、6Induced2928917Induced3243,314190Induced2372,803131Induced2,36718,2091,339Induced4514,361267Induced3102,490181Induced10299056Induced6243738Induced6887,372396Induced8408,595465Induced141378Induced1251,50174Induced1,99017,6601,170Induced5876,263347Induced2582,943145Induced4134,427239Induced2512,879147
221、Induced3393,968188Induced961,06856Induced3313,016188Induced4163,465261Induced4735,110289Induced6095,910374Induced1441,84576Induced5986,456350Induced2252,901141Induced5215,476293Induced1291,23167Induced9084054Induced8226,930502Induced981,12452Induced1,50211,513887Induced4294,434241Induced1621,81596In
222、duced9409,585536Induced2512,960145Induced3573,673218Induced1,80517,6061,122Induced4443926Induced3143,686175Induced1061,18663Induced4554,732281Induced2,98730,4031,784Induced2362,474130Induced4044924Induced6826,459363Induced5484,336304Induced1451,77185Induced5045,393298Induced871,05444Total75,778682,4
223、2649,01615,405Total1,29614,024844256Total907875717Total8498,439556170Total96010,857601215Total6,16145,1043,8251,327Total1,12510,508771225Total7315,340489167Total4462,49921372Total2621,59217343Total1,82819,6171,166382Total2,59322,6951,510482Total31333197Total3914,80527488Total5,69446,9083,6611,166Tot
224、al1,80118,1911,181363Total8709,452585181Total1,50414,005973310Total8349,131541185Total1,35412,445787249Total2472,99117159Total7556,574480170Total1,0408,168698214Total1,22912,676851236Total1,59814,4801,074236Total5296,868339120Total1,84418,5201,188363Total7459,388523176Total1,76017,9521,162372Total38
225、33,63823092Total1691,60911532Total1,88614,9881,241463Total3733,99822291Total4,30127,6842,637872Total1,36012,553810251Total5985,912396118Total2,71124,5971,641484Total8329,297565167Total1,0199,987726206Total5,25146,0443,7041,043Total939105921Total1,05711,544726232Total3463,60522969Total1,29613,3658872
226、63Total8,97477,5365,9471,726Total7426,687437126Total1031,3037424Total1,85616,6931,174403Total1,59211,693958371Total4935,649337117Total1,37314,295932286Total4044,49125698GDP,Income,and Taxes:US$,2020;Employment:number of peopleRail Supply Industry:Manufacturing and Services Keeping the American Econo
227、my on TrackKansasGDP(millions$)Employment Income(millions$)Taxes(millions$)KentuckyGDP(millions$)Employment Income(millions$)Taxes(millions$)LouisianaGDP(millions$)Employment Income(millions$)Taxes(millions$)MaineGDP(millions$)Employment Income(millions$)Taxes(millions$)MarylandGDP(millions$)Employm
228、ent Income(millions$)Taxes(millions$)MassachusettsGDP(millions$)Employment Income(millions$)Taxes(millions$)MichiganGDP(millions$)Employment Income(millions$)Taxes(millions$)MinnesotaGDP(millions$)Employment Income(millions$)Taxes(millions$)MississippiGDP(millions$)Employment Income(millions$)Taxes(
229、millions$)MissouriGDP(millions$)Employment Income(millions$)Taxes(millions$)MontanaGDP(millions$)Employment Income(millions$)Taxes(millions$)NebraskaGDP(millions$)Employment Income(millions$)Taxes(millions$)NevadaGDP(millions$)Employment Income(millions$)Taxes(millions$)New HampshireGDP(millions$)Em
230、ployment Income(millions$)Taxes(millions$)New JerseyGDP(millions$)Employment Income(millions$)Taxes(millions$)New MexicoGDP(millions$)Employment Income(millions$)Taxes(millions$)New YorkGDP(millions$)Employment Income(millions$)Taxes(millions$)North CarolinaGDP(millions$)Employment Income(millions$)
231、Taxes(millions$)North DakotaGDP(millions$)Employment Income(millions$)Taxes(millions$)OhioGDP(millions$)Employment Income(millions$)Taxes(millions$)OklahomaGDP(millions$)Employment Income(millions$)Taxes(millions$)OregonGDP(millions$)Employment Income(millions$)Taxes(millions$)PennsylvaniaGDP(millio
232、ns$)Employment Income(millions$)Taxes(millions$)Rhode IslandGDP(millions$)Employment Income(millions$)Taxes(millions$)South CarolinaGDP(millions$)Employment Income(millions$)Taxes(millions$)South DakotaGDP(millions$)Employment Income(millions$)Taxes(millions$)TennesseeGDP(millions$)Employment Income
233、(millions$)Taxes(millions$)TexasGDP(millions$)Employment Income(millions$)Taxes(millions$)UtahGDP(millions$)Employment Income(millions$)Taxes(millions$)VermontGDP(millions$)Employment Income(millions$)Taxes(millions$)VirginiaGDP(millions$)Employment Income(millions$)Taxes(millions$)WashingtonGDP(mil
234、lions$)Employment Income(millions$)Taxes(millions$)West VirginiaGDP(millions$)Employment Income(millions$)Taxes(millions$)WisconsinGDP(millions$)Employment Income(millions$)Taxes(millions$)WyomingGDP(millions$)Employment Income(millions$)Taxes(millions$)Direct27,674239,27319,030Direct5145,518368Dire
235、ct3831526Direct2852,778208Direct3904,611265Direct1,94413,5421,270Direct3523,403271Direct2691,715204Direct2811,004121Direct13982294Direct5896,479407Direct1,0477,704602Direct101216Direct1551,996121Direct2,05016,3281,387Direct6356,624461Direct3714,130286Direct7085,922479Direct3383,668234Direct5974,6893
236、31Direct861,12070Direct2712,273190Direct3762,957265Direct3633,869291Direct5614,959409Direct2112,912154Direct7397,181504Direct3174,077245Direct8018,115583Direct1561,482102Direct3939633Direct6334,720433Direct1711,919115Direct1,7529,4971,063Direct5244,167305Direct2832,837211Direct9618,000596Direct2873,
237、464223Direct3383,252273Direct1,73414,4461,403Direct2827719Direct3834,214315Direct1621,614114Direct4554,832339Direct2,82922,6041,894Direct2932,225175Direct3652331Direct6776,029486Direct6244,319389Direct2172,490166Direct4464,784345Direct2112,351147Indirect22,221191,07114,870Indirect4344,401280Indirect
238、2318414Indirect2402,347158Indirect3343,444206Indirect1,85013,3531,216Indirect3222,744234Indirect1521,136103Indirect6450536Indirect6133241Indirect5525,767363Indirect7056,395442Indirect7755Indirect1111,30878Indirect1,65412,9201,104Indirect5795,303373Indirect2412,379153Indirect3843,656255Indirect2442,5
239、84161Indirect4173,787268Indirect6580346Indirect1531,285102Indirect2481,746172Indirect3943,697271Indirect4273,611291Indirect1752,110109Indirect5074,882334Indirect2022,409138Indirect4384,361287Indirect9892561Indirect4037328Indirect4323,339306Indirect10595555Indirect1,0466,674688Indirect4073,952264Indi
240、rect1531,26089Indirect8107,013509Indirect2952,873197Indirect3243,062236Indirect1,71213,9921,179Indirect2119514Indirect3603,644237Indirect7880652Indirect3863,801267Indirect3,15724,5302,270Indirect2131,988131Indirect2733119Indirect4974,205325Indirect4203,038265Indirect1311,38786Indirect4234,118289Indi
241、rect1061,08665Induced25,882252,08315,115Induced3484,105196Induced2928917Induced3243,314190Induced2372,803131Induced2,36718,2091,339Induced4514,361267Induced3102,490181Induced10299056Induced6243738Induced6887,372396Induced8408,595465Induced141378Induced1251,50174Induced1,99017,6601,170Induced5876,263
242、347Induced2582,943145Induced4134,427239Induced2512,879147Induced3393,968188Induced961,06856Induced3313,016188Induced4163,465261Induced4735,110289Induced6095,910374Induced1441,84576Induced5986,456350Induced2252,901141Induced5215,476293Induced1291,23167Induced9084054Induced8226,930502Induced981,12452I
243、nduced1,50211,513887Induced4294,434241Induced1621,81596Induced9409,585536Induced2512,960145Induced3573,673218Induced1,80517,6061,122Induced4443926Induced3143,686175Induced1061,18663Induced4554,732281Induced2,98730,4031,784Induced2362,474130Induced4044924Induced6826,459363Induced5484,336304Induced145
244、1,77185Induced5045,393298Induced871,05444Total75,778682,42649,01615,405Total1,29614,024844256Total907875717Total8498,439556170Total96010,857601215Total6,16145,1043,8251,327Total1,12510,508771225Total7315,340489167Total4462,49921372Total2621,59217343Total1,82819,6171,166382Total2,59322,6951,510482Tot
245、al31333197Total3914,80527488Total5,69446,9083,6611,166Total1,80118,1911,181363Total8709,452585181Total1,50414,005973310Total8349,131541185Total1,35412,445787249Total2472,99117159Total7556,574480170Total1,0408,168698214Total1,22912,676851236Total1,59814,4801,074236Total5296,868339120Total1,84418,5201
246、,188363Total7459,388523176Total1,76017,9521,162372Total3833,63823092Total1691,60911532Total1,88614,9881,241463Total3733,99822291Total4,30127,6842,637872Total1,36012,553810251Total5985,912396118Total2,71124,5971,641484Total8329,297565167Total1,0199,987726206Total5,25146,0443,7041,043Total939105921Tot
247、al1,05711,544726232Total3463,60522969Total1,29613,365887263Total8,97477,5365,9471,726Total7426,687437126Total1031,3037424Total1,85616,6931,174403Total1,59211,693958371Total4935,649337117Total1,37314,295932286Total4044,49125698GDP,Income,and Taxes:US$,2020;Employment:number of peopleRail Supply Indus
248、try:Manufacturing and Services Keeping the American Economy on TrackMissouriGDP(millions$)Employment Income(millions$)Taxes(millions$)MontanaGDP(millions$)Employment Income(millions$)Taxes(millions$)NebraskaGDP(millions$)Employment Income(millions$)Taxes(millions$)NevadaGDP(millions$)Employment Inco
249、me(millions$)Taxes(millions$)New HampshireGDP(millions$)Employment Income(millions$)Taxes(millions$)New JerseyGDP(millions$)Employment Income(millions$)Taxes(millions$)New MexicoGDP(millions$)Employment Income(millions$)Taxes(millions$)New YorkGDP(millions$)Employment Income(millions$)Taxes(millions
250、$)North CarolinaGDP(millions$)Employment Income(millions$)Taxes(millions$)North DakotaGDP(millions$)Employment Income(millions$)Taxes(millions$)OhioGDP(millions$)Employment Income(millions$)Taxes(millions$)OklahomaGDP(millions$)Employment Income(millions$)Taxes(millions$)OregonGDP(millions$)Employme
251、nt Income(millions$)Taxes(millions$)PennsylvaniaGDP(millions$)Employment Income(millions$)Taxes(millions$)Rhode IslandGDP(millions$)Employment Income(millions$)Taxes(millions$)South CarolinaGDP(millions$)Employment Income(millions$)Taxes(millions$)South DakotaGDP(millions$)Employment Income(millions
252、$)Taxes(millions$)TennesseeGDP(millions$)Employment Income(millions$)Taxes(millions$)TexasGDP(millions$)Employment Income(millions$)Taxes(millions$)UtahGDP(millions$)Employment Income(millions$)Taxes(millions$)VermontGDP(millions$)Employment Income(millions$)Taxes(millions$)VirginiaGDP(millions$)Emp
253、loyment Income(millions$)Taxes(millions$)WashingtonGDP(millions$)Employment Income(millions$)Taxes(millions$)West VirginiaGDP(millions$)Employment Income(millions$)Taxes(millions$)WisconsinGDP(millions$)Employment Income(millions$)Taxes(millions$)WyomingGDP(millions$)Employment Income(millions$)Taxe
254、s(millions$)Direct27,674239,27319,030Direct5145,518368Direct3831526Direct2852,778208Direct3904,611265Direct1,94413,5421,270Direct3523,403271Direct2691,715204Direct2811,004121Direct13982294Direct5896,479407Direct1,0477,704602Direct101216Direct1551,996121Direct2,05016,3281,387Direct6356,624461Direct37
255、14,130286Direct7085,922479Direct3383,668234Direct5974,689331Direct861,12070Direct2712,273190Direct3762,957265Direct3633,869291Direct5614,959409Direct2112,912154Direct7397,181504Direct3174,077245Direct8018,115583Direct1561,482102Direct3939633Direct6334,720433Direct1711,919115Direct1,7529,4971,063Dire
256、ct5244,167305Direct2832,837211Direct9618,000596Direct2873,464223Direct3383,252273Direct1,73414,4461,403Direct2827719Direct3834,214315Direct1621,614114Direct4554,832339Direct2,82922,6041,894Direct2932,225175Direct3652331Direct6776,029486Direct6244,319389Direct2172,490166Direct4464,784345Direct2112,35
257、1147Indirect22,221191,07114,870Indirect4344,401280Indirect2318414Indirect2402,347158Indirect3343,444206Indirect1,85013,3531,216Indirect3222,744234Indirect1521,136103Indirect6450536Indirect6133241Indirect5525,767363Indirect7056,395442Indirect7755Indirect1111,30878Indirect1,65412,9201,104Indirect5795,
258、303373Indirect2412,379153Indirect3843,656255Indirect2442,584161Indirect4173,787268Indirect6580346Indirect1531,285102Indirect2481,746172Indirect3943,697271Indirect4273,611291Indirect1752,110109Indirect5074,882334Indirect2022,409138Indirect4384,361287Indirect9892561Indirect4037328Indirect4323,339306In
259、direct10595555Indirect1,0466,674688Indirect4073,952264Indirect1531,26089Indirect8107,013509Indirect2952,873197Indirect3243,062236Indirect1,71213,9921,179Indirect2119514Indirect3603,644237Indirect7880652Indirect3863,801267Indirect3,15724,5302,270Indirect2131,988131Indirect2733119Indirect4974,205325In
260、direct4203,038265Indirect1311,38786Indirect4234,118289Indirect1061,08665Induced25,882252,08315,115Induced3484,105196Induced2928917Induced3243,314190Induced2372,803131Induced2,36718,2091,339Induced4514,361267Induced3102,490181Induced10299056Induced6243738Induced6887,372396Induced8408,595465Induced141
261、378Induced1251,50174Induced1,99017,6601,170Induced5876,263347Induced2582,943145Induced4134,427239Induced2512,879147Induced3393,968188Induced961,06856Induced3313,016188Induced4163,465261Induced4735,110289Induced6095,910374Induced1441,84576Induced5986,456350Induced2252,901141Induced5215,476293Induced1
262、291,23167Induced9084054Induced8226,930502Induced981,12452Induced1,50211,513887Induced4294,434241Induced1621,81596Induced9409,585536Induced2512,960145Induced3573,673218Induced1,80517,6061,122Induced4443926Induced3143,686175Induced1061,18663Induced4554,732281Induced2,98730,4031,784Induced2362,474130In
263、duced4044924Induced6826,459363Induced5484,336304Induced1451,77185Induced5045,393298Induced871,05444Total75,778682,42649,01615,405Total1,29614,024844256Total907875717Total8498,439556170Total96010,857601215Total6,16145,1043,8251,327Total1,12510,508771225Total7315,340489167Total4462,49921372Total2621,5
264、9217343Total1,82819,6171,166382Total2,59322,6951,510482Total31333197Total3914,80527488Total5,69446,9083,6611,166Total1,80118,1911,181363Total8709,452585181Total1,50414,005973310Total8349,131541185Total1,35412,445787249Total2472,99117159Total7556,574480170Total1,0408,168698214Total1,22912,676851236To
265、tal1,59814,4801,074236Total5296,868339120Total1,84418,5201,188363Total7459,388523176Total1,76017,9521,162372Total3833,63823092Total1691,60911532Total1,88614,9881,241463Total3733,99822291Total4,30127,6842,637872Total1,36012,553810251Total5985,912396118Total2,71124,5971,641484Total8329,297565167Total1
266、,0199,987726206Total5,25146,0443,7041,043Total939105921Total1,05711,544726232Total3463,60522969Total1,29613,365887263Total8,97477,5365,9471,726Total7426,687437126Total1031,3037424Total1,85616,6931,174403Total1,59211,693958371Total4935,649337117Total1,37314,295932286Total4044,49125698GDP,Income,and T
267、axes:US$,2020;Employment:number of peopleRail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackNorth DakotaGDP(millions$)Employment Income(millions$)Taxes(millions$)OhioGDP(millions$)Employment Income(millions$)Taxes(millions$)OklahomaGDP(millions$)Employment Income(mi
268、llions$)Taxes(millions$)OregonGDP(millions$)Employment Income(millions$)Taxes(millions$)PennsylvaniaGDP(millions$)Employment Income(millions$)Taxes(millions$)Rhode IslandGDP(millions$)Employment Income(millions$)Taxes(millions$)South CarolinaGDP(millions$)Employment Income(millions$)Taxes(millions$)
269、South DakotaGDP(millions$)Employment Income(millions$)Taxes(millions$)TennesseeGDP(millions$)Employment Income(millions$)Taxes(millions$)TexasGDP(millions$)Employment Income(millions$)Taxes(millions$)UtahGDP(millions$)Employment Income(millions$)Taxes(millions$)VermontGDP(millions$)Employment Income
270、(millions$)Taxes(millions$)VirginiaGDP(millions$)Employment Income(millions$)Taxes(millions$)WashingtonGDP(millions$)Employment Income(millions$)Taxes(millions$)West VirginiaGDP(millions$)Employment Income(millions$)Taxes(millions$)WisconsinGDP(millions$)Employment Income(millions$)Taxes(millions$)W
271、yomingGDP(millions$)Employment Income(millions$)Taxes(millions$)Direct27,674239,27319,030Direct5145,518368Direct3831526Direct2852,778208Direct3904,611265Direct1,94413,5421,270Direct3523,403271Direct2691,715204Direct2811,004121Direct13982294Direct5896,479407Direct1,0477,704602Direct101216Direct1551,9
272、96121Direct2,05016,3281,387Direct6356,624461Direct3714,130286Direct7085,922479Direct3383,668234Direct5974,689331Direct861,12070Direct2712,273190Direct3762,957265Direct3633,869291Direct5614,959409Direct2112,912154Direct7397,181504Direct3174,077245Direct8018,115583Direct1561,482102Direct3939633Direct6
273、334,720433Direct1711,919115Direct1,7529,4971,063Direct5244,167305Direct2832,837211Direct9618,000596Direct2873,464223Direct3383,252273Direct1,73414,4461,403Direct2827719Direct3834,214315Direct1621,614114Direct4554,832339Direct2,82922,6041,894Direct2932,225175Direct3652331Direct6776,029486Direct6244,3
274、19389Direct2172,490166Direct4464,784345Direct2112,351147Indirect22,221191,07114,870Indirect4344,401280Indirect2318414Indirect2402,347158Indirect3343,444206Indirect1,85013,3531,216Indirect3222,744234Indirect1521,136103Indirect6450536Indirect6133241Indirect5525,767363Indirect7056,395442Indirect7755Ind
275、irect1111,30878Indirect1,65412,9201,104Indirect5795,303373Indirect2412,379153Indirect3843,656255Indirect2442,584161Indirect4173,787268Indirect6580346Indirect1531,285102Indirect2481,746172Indirect3943,697271Indirect4273,611291Indirect1752,110109Indirect5074,882334Indirect2022,409138Indirect4384,36128
276、7Indirect9892561Indirect4037328Indirect4323,339306Indirect10595555Indirect1,0466,674688Indirect4073,952264Indirect1531,26089Indirect8107,013509Indirect2952,873197Indirect3243,062236Indirect1,71213,9921,179Indirect2119514Indirect3603,644237Indirect7880652Indirect3863,801267Indirect3,15724,5302,270Ind
277、irect2131,988131Indirect2733119Indirect4974,205325Indirect4203,038265Indirect1311,38786Indirect4234,118289Indirect1061,08665Induced25,882252,08315,115Induced3484,105196Induced2928917Induced3243,314190Induced2372,803131Induced2,36718,2091,339Induced4514,361267Induced3102,490181Induced10299056Induced6
278、243738Induced6887,372396Induced8408,595465Induced141378Induced1251,50174Induced1,99017,6601,170Induced5876,263347Induced2582,943145Induced4134,427239Induced2512,879147Induced3393,968188Induced961,06856Induced3313,016188Induced4163,465261Induced4735,110289Induced6095,910374Induced1441,84576Induced598
279、6,456350Induced2252,901141Induced5215,476293Induced1291,23167Induced9084054Induced8226,930502Induced981,12452Induced1,50211,513887Induced4294,434241Induced1621,81596Induced9409,585536Induced2512,960145Induced3573,673218Induced1,80517,6061,122Induced4443926Induced3143,686175Induced1061,18663Induced45
280、54,732281Induced2,98730,4031,784Induced2362,474130Induced4044924Induced6826,459363Induced5484,336304Induced1451,77185Induced5045,393298Induced871,05444Total75,778682,42649,01615,405Total1,29614,024844256Total907875717Total8498,439556170Total96010,857601215Total6,16145,1043,8251,327Total1,12510,50877
281、1225Total7315,340489167Total4462,49921372Total2621,59217343Total1,82819,6171,166382Total2,59322,6951,510482Total31333197Total3914,80527488Total5,69446,9083,6611,166Total1,80118,1911,181363Total8709,452585181Total1,50414,005973310Total8349,131541185Total1,35412,445787249Total2472,99117159Total7556,57
282、4480170Total1,0408,168698214Total1,22912,676851236Total1,59814,4801,074236Total5296,868339120Total1,84418,5201,188363Total7459,388523176Total1,76017,9521,162372Total3833,63823092Total1691,60911532Total1,88614,9881,241463Total3733,99822291Total4,30127,6842,637872Total1,36012,553810251Total5985,912396
283、118Total2,71124,5971,641484Total8329,297565167Total1,0199,987726206Total5,25146,0443,7041,043Total939105921Total1,05711,544726232Total3463,60522969Total1,29613,365887263Total8,97477,5365,9471,726Total7426,687437126Total1031,3037424Total1,85616,6931,174403Total1,59211,693958371Total4935,649337117Tota
284、l1,37314,295932286Total4044,49125698GDP,Income,and Taxes:US$,2020;Employment:number of people48Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackSource:Oxford EconomicsUnited StatesGDP(millions$)Employment Income(millions$)Taxes(millions$)AlabamaGDP(millions$)Emplo
285、yment Income(millions$)Taxes(millions$)AlaskaGDP(millions$)Employment Income(millions$)Taxes(millions$)ArizonaGDP(millions$)Employment Income(millions$)Taxes(millions$)ArkansasGDP(millions$)Employment Income(millions$)Taxes(millions$)CaliforniaGDP(millions$)Employment Income(millions$)Taxes(millions
286、$)ColoradoGDP(millions$)Employment Income(millions$)Taxes(millions$)ConnecticutGDP(millions$)Employment Income(millions$)Taxes(millions$)DelawareGDP(millions$)Employment Income(millions$)Taxes(millions$)District of ColumbiaGDP(millions$)Employment Income(millions$)Taxes(millions$)FloridaGDP(millions
287、$)Employment Income(millions$)Taxes(millions$)GeorgiaGDP(millions$)Employment Income(millions$)Taxes(millions$)HawaiiGDP(millions$)Employment Income(millions$)Taxes(millions$)IdahoGDP(millions$)Employment Income(millions$)Taxes(millions$)IllinoisGDP(millions$)Employment Income(millions$)Taxes(millio
288、ns$)IndianaGDP(millions$)Employment Income(millions$)Taxes(millions$)IowaGDP(millions$)Employment Income(millions$)Taxes(millions$)KansasGDP(millions$)Employment Income(millions$)Taxes(millions$)KentuckyGDP(millions$)Employment Income(millions$)Taxes(millions$)LouisianaGDP(millions$)Employment Incom
289、e(millions$)Taxes(millions$)MaineGDP(millions$)Employment Income(millions$)Taxes(millions$)MarylandGDP(millions$)Employment Income(millions$)Taxes(millions$)MassachusettsGDP(millions$)Employment Income(millions$)Taxes(millions$)MichiganGDP(millions$)Employment Income(millions$)Taxes(millions$)Minnes
290、otaGDP(millions$)Employment Income(millions$)Taxes(millions$)MississippiGDP(millions$)Employment Income(millions$)Taxes(millions$)MissouriGDP(millions$)Employment Income(millions$)Taxes(millions$)MontanaGDP(millions$)Employment Income(millions$)Taxes(millions$)NebraskaGDP(millions$)Employment Income
291、(millions$)Taxes(millions$)NevadaGDP(millions$)Employment Income(millions$)Taxes(millions$)New HampshireGDP(millions$)Employment Income(millions$)Taxes(millions$)New JerseyGDP(millions$)Employment Income(millions$)Taxes(millions$)New MexicoGDP(millions$)Employment Income(millions$)Taxes(millions$)Ne
292、w YorkGDP(millions$)Employment Income(millions$)Taxes(millions$)North CarolinaGDP(millions$)Employment Income(millions$)Taxes(millions$)North DakotaGDP(millions$)Employment Income(millions$)Taxes(millions$)OhioGDP(millions$)Employment Income(millions$)Taxes(millions$)OklahomaGDP(millions$)Employment
293、 Income(millions$)Taxes(millions$)OregonGDP(millions$)Employment Income(millions$)Taxes(millions$)PennsylvaniaGDP(millions$)Employment Income(millions$)Taxes(millions$)Rhode IslandGDP(millions$)Employment Income(millions$)Taxes(millions$)South CarolinaGDP(millions$)Employment Income(millions$)Taxes(
294、millions$)South DakotaGDP(millions$)Employment Income(millions$)Taxes(millions$)TennesseeGDP(millions$)Employment Income(millions$)Taxes(millions$)TexasGDP(millions$)Employment Income(millions$)Taxes(millions$)UtahGDP(millions$)Employment Income(millions$)Taxes(millions$)VermontGDP(millions$)Employm
295、ent Income(millions$)Taxes(millions$)VirginiaGDP(millions$)Employment Income(millions$)Taxes(millions$)WashingtonGDP(millions$)Employment Income(millions$)Taxes(millions$)West VirginiaGDP(millions$)Employment Income(millions$)Taxes(millions$)WisconsinGDP(millions$)Employment Income(millions$)Taxes(m
296、illions$)WyomingGDP(millions$)Employment Income(millions$)Taxes(millions$)Direct27,674239,27319,030Direct5145,518368Direct3831526Direct2852,778208Direct3904,611265Direct1,94413,5421,270Direct3523,403271Direct2691,715204Direct2811,004121Direct13982294Direct5896,479407Direct1,0477,704602Direct101216Di
297、rect1551,996121Direct2,05016,3281,387Direct6356,624461Direct3714,130286Direct7085,922479Direct3383,668234Direct5974,689331Direct861,12070Direct2712,273190Direct3762,957265Direct3633,869291Direct5614,959409Direct2112,912154Direct7397,181504Direct3174,077245Direct8018,115583Direct1561,482102Direct3939
298、633Direct6334,720433Direct1711,919115Direct1,7529,4971,063Direct5244,167305Direct2832,837211Direct9618,000596Direct2873,464223Direct3383,252273Direct1,73414,4461,403Direct2827719Direct3834,214315Direct1621,614114Direct4554,832339Direct2,82922,6041,894Direct2932,225175Direct3652331Direct6776,029486Di
299、rect6244,319389Direct2172,490166Direct4464,784345Direct2112,351147Indirect22,221191,07114,870Indirect4344,401280Indirect2318414Indirect2402,347158Indirect3343,444206Indirect1,85013,3531,216Indirect3222,744234Indirect1521,136103Indirect6450536Indirect6133241Indirect5525,767363Indirect7056,395442Indir
300、ect7755Indirect1111,30878Indirect1,65412,9201,104Indirect5795,303373Indirect2412,379153Indirect3843,656255Indirect2442,584161Indirect4173,787268Indirect6580346Indirect1531,285102Indirect2481,746172Indirect3943,697271Indirect4273,611291Indirect1752,110109Indirect5074,882334Indirect2022,409138Indirect
301、4384,361287Indirect9892561Indirect4037328Indirect4323,339306Indirect10595555Indirect1,0466,674688Indirect4073,952264Indirect1531,26089Indirect8107,013509Indirect2952,873197Indirect3243,062236Indirect1,71213,9921,179Indirect2119514Indirect3603,644237Indirect7880652Indirect3863,801267Indirect3,15724,5
302、302,270Indirect2131,988131Indirect2733119Indirect4974,205325Indirect4203,038265Indirect1311,38786Indirect4234,118289Indirect1061,08665Induced25,882252,08315,115Induced3484,105196Induced2928917Induced3243,314190Induced2372,803131Induced2,36718,2091,339Induced4514,361267Induced3102,490181Induced102990
303、56Induced6243738Induced6887,372396Induced8408,595465Induced141378Induced1251,50174Induced1,99017,6601,170Induced5876,263347Induced2582,943145Induced4134,427239Induced2512,879147Induced3393,968188Induced961,06856Induced3313,016188Induced4163,465261Induced4735,110289Induced6095,910374Induced1441,84576
304、Induced5986,456350Induced2252,901141Induced5215,476293Induced1291,23167Induced9084054Induced8226,930502Induced981,12452Induced1,50211,513887Induced4294,434241Induced1621,81596Induced9409,585536Induced2512,960145Induced3573,673218Induced1,80517,6061,122Induced4443926Induced3143,686175Induced1061,1866
305、3Induced4554,732281Induced2,98730,4031,784Induced2362,474130Induced4044924Induced6826,459363Induced5484,336304Induced1451,77185Induced5045,393298Induced871,05444Total75,778682,42649,01615,405Total1,29614,024844256Total907875717Total8498,439556170Total96010,857601215Total6,16145,1043,8251,327Total1,1
306、2510,508771225Total7315,340489167Total4462,49921372Total2621,59217343Total1,82819,6171,166382Total2,59322,6951,510482Total31333197Total3914,80527488Total5,69446,9083,6611,166Total1,80118,1911,181363Total8709,452585181Total1,50414,005973310Total8349,131541185Total1,35412,445787249Total2472,99117159To
307、tal7556,574480170Total1,0408,168698214Total1,22912,676851236Total1,59814,4801,074236Total5296,868339120Total1,84418,5201,188363Total7459,388523176Total1,76017,9521,162372Total3833,63823092Total1691,60911532Total1,88614,9881,241463Total3733,99822291Total4,30127,6842,637872Total1,36012,553810251Total5
308、985,912396118Total2,71124,5971,641484Total8329,297565167Total1,0199,987726206Total5,25146,0443,7041,043Total939105921Total1,05711,544726232Total3463,60522969Total1,29613,365887263Total8,97477,5365,9471,726Total7426,687437126Total1031,3037424Total1,85616,6931,174403Total1,59211,693958371Total4935,649
309、337117Total1,37314,295932286Total4044,49125698GDP,Income,and Taxes:US$,2020;Employment:number of people50Rail Supply Industry:Manufacturing and Services Keeping the American Economy on TrackOxford Economics was founded in 1981 as a commercial venture with Oxford Universitys business college to provi
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