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Waterways Freight Diversification and Economic Development Initiative
Overview
The Waterways Freight Diversification and Economic Development Initiative aims to revitalize communities along the Ohio, Allegheny and Monongahela River Corridor (Three Rivers Corridor) by promoting economic development and freight diversification. This effort seeks to leverage the region’s waterways to boost freight transportation, create good-paying jobs and stimulate local economies.
The Interagency Working Group on Coal and Power Plant Communities and Economic Revitalization (Energy Communities IWG), directed by the Appropriations Act of 2024, is tasked with convening relevant stakeholders in communities along the waterways. This multistate initiative aims to address unique challenges and unlock their economic potential through targeted support and strategic investments.
Communities along the waterways are ripe for private and public sector investment. Federal investments in the enhancement of America’s waterways and freight diversification are essential for revitalizing these communities.
The Bipartisan Infrastructure Law provides significant funding for upgrading locks and dams, ensuring the smooth transportation of goods with a lower carbon footprint. Additionally, funds are available for cleaning up Brownfields and repurposing former coal plants, further supporting regional economic development. Communities along the waterways can also utilize funding from the Inflation Reduction Act, which can substantially improve the economic prospect of rural, historically disadvantaged communities by creating incentives to encourage long-term investment. By decarbonizing freight transportation, we can enhance environmental sustainability while stimulating economic growth along the waterways.
The Energy Communities IWG is actively engaging in listening sessions with key stakeholders in communities along the Three Rivers Corridor. Listening sessions are designed to understand community challenges, identify opportunities and share best practices, with a focus on utilizing freight transportation and investing in economic development to create local and regional benefits.
Leveraging the waterways as an economic asset in these communities provides a valuable resource for transporting agricultural, energy and other commodities, supporting the broader American economy. By addressing barriers and leveraging federal incentives, this multistate initiative seeks to bolster the economic prospects of communities in Pennsylvania, West Virginia, Indiana, Illinois, Kentucky and Ohio.
