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Back it UpCategoryFactsheetsFactsheets CategoryIndustry NewsIndustry NewsResources

Back It Up: April 2024 Market Report

May 1, 2024 By L dobbins0 Comments
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April was a month of notable developments aimed at fostering industry resilience and adaptation as warm weather approaches. Nationally, the FTC’s ban on noncompete agreements aimed to boost competition and innovation, potentially leading to the creation of over 8,500 new businesses annually and increased patent filings. In Texas, Governor Greg Abbott allocated funds to train around 660 new heavy truck drivers, with institutions like Lee College and Houston Community College benefitting from the investment. Efforts to restore operations at the Port of Baltimore, closed since March 26, were underway with crews utilizing a large crane to clear debris from the collapsed Francis Scott Key Bridge.

In Ohio, the completion of the turnpike’s major construction project introduced a new tolling system with open-road lanes spanning its 241-mile stretch. However, the industry faced challenges as the American Trucking Association reported a 0.5% decrease in truck tonnage for March. On a positive note, the US Department of Transportation announced grants for environmentally sustainable initiatives, with approximately $75 million allocated to 16 projects aimed at reducing truck emissions in ports and supply chain corridors.

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