Memphis Business Journal - Congressman Cohen introduces two aerotropolis bills
Thursday, U.S. Congressman Steve Cohen introduced two bills that aim at boosting the development of aerotropolis transportation systems in Memphis and throughout the country.
Aerotropolis refers to the perspective of urban development focused on promoting diverse development surrounding airports.
In April 2014, Memphis Airport City, the 50-square-mile radius around the Memphis International Airport, released a master plan that recommends developing 40 million square feet of industrial space that would create more than 20,000 jobs, increase property values by $1.2 billion and generate $30 million in additional annual taxes.
In 2010, Cohen helped secure $1.26 million in funding for the Memphis Aerotropolis master plan.
Cohen’s Aerotropolis Act of 2015 and the Leading and Expediting Aerotropolis Development (LEAD) Act of 2015 work to speed the development of aerotropolis projects to help enhance economic competitiveness and spur job growth in cities like Memphis.
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“The Memphis Aerotropolis is both a transportation network and an economic development engine for the Mid-South,” Cohen said. “With the need to ship and receive goods quickly and efficiently growing by the day, establishing aerotropolis transportation systems in Memphis and across the country will kick-start economic growth, create jobs, improve our freight transportation network and enable us to compete more effectively in the modern global economy.”
Cohen’s Aerotropolis Act of 2015 would amend the Safe, Accountable, Flexible, Efficient Transportation Act: A Legacy for Users (SAFETEA–LU) to clarify that aerotropolis-related projects are eligible to receive funds under the Projects of National and Regional Significance Program.
The program funds projects with significant national economic benefits that cannot be funded through traditional funding mechanisms. The development of many aerotropolis transportation systems throughout the country is slowed because of a lack of funding for pre-construction activities, Cohen said.
The Leading and Expediting Aerotropolis Development (LEAD) Act of 2015 would establish a grant program to provide funding assistance to local entities for the planning, design, environmental review, and land acquisition for aerotropolis transportation system projects.
By providing a small influx of money in the pre-construction phase, the bill would help localities dramatically expedite project delivery, enhance U.S. competitiveness, and create jobs, Cohen said.
Both measures have the potential to help fund the Third Bridge, I-69 and I-22/78 Corridor projects.
Cohen worked to include language in the most recent surface transportation bill (MAP-21) that would include the aerotropolis concept into the National Freight Program, which aims to improve and maintain the national freight network.