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Stacey Vanek-Smith: This has been a bad week for Wall Street. In spite of that, though, there are signs that the U.S. economy is coming back. Plans are underway to build a cargo warehouse at New York’s JFK airport — the first in nearly a decade. Jill Barshay has that story.
Jill Barshay: JFK airport handles more cargo than most airports in the world. So people like Paul Rosen have a front seat to the ebbs and flows of global trade. He’s at AMB Property, the largest owner of cargo warehouses at the airport. He says when there’s a lot of cargo, all the warehouse workers complain there’s no place to park.
Paul Rosen: It quieted down a little bit during the recession. Now everybody’s really happy that we’re seeing more traffic. It’s kind of funny because the same thing that we complained about, people are happy because that means business is getting better.
Global trade is still down from its peak in 2007, but Brandon Fried says cargo volumes are starting to surge. He’s the executive director of the Air Forwarders Association.
Brandon Fried: And we’re going to need space. We’re going to need space not only to handle the increased cargo, but also the demands for cargo screening.
On August 1, all cargo has to be screened prior to boarding. Cargo handlers will need new buildings for that. But the ground won’t be broken on the new JFK warehouse until September.
In New York, I’m Jill Barshay for Marketplace.
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