Parking Industry Urges Congress and White House to Provide Emergency Financial Relief
Parking Industry Urges Congress and White House to Provide
Emergency Financial Relief
Washington, DC (March 21, 2020)— Facing unprecedented catastrophic losses due to a more than 80 percent reduction in parking demand, the nation’s parking industry has requested that Congress and the White House provide immediate financial relief.
The parking industry contributes $131 billion to U.S. GDP and directly employs 581,000 workers, primarily hourly wage earners, who are facing massive furloughs and layoffs due to the collapse in parking demand across the nation.
The National Parking Association, in a letter sent to Congressional leadership and President Trump, has requested an initial $5 billion allocation to stabilize this industry.
“The nation’s parking industry serves hotels, airports, hospitals, shopping centers, businesses, and mixed-use residential properties across the United States, with both privately owned and municipal parking facilities simplifying our lives on a daily basis,” said Christine Banning, IOM, CAE, President of the National Parking Association. “Parking industry cash flow is collapsing and layoffs of as much as 50 percent of our employees if not more unless we get immediate relief from the federal government.”
Parking contributes more than $175 billion in economic impact to GDP through direct, indirect and induced impact. Total parking industry related employment tops at nearly 1 million workers in the public & private sectors—including suppliers to the industry.
About National Parking Association
The National Parking Association is the nation’s leading voice of the $131 billion parking industry—an essential industry that contributes $260 billion in total economic activity across the country. We are the market leader in parking industry research, education and programs, and advocate for its nearly
1 million employees. We support advancing the interests of the private and public sector in parking technology, sustainable mobility, certification, advocacy, research, and education. Learn more at weareparking.org.