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Economic Development Impact of Corridor Improvements

Economic Development Impact of Corridor Improvements
Author: Davis Chacon-Hurtado
Publisher:
Total Pages:
Release: 2018-08-15
Genre:
ISBN: 9781622604937

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In recent years, the Indiana Department of Transportation (DOT) and other state transportation agencies have increasingly implemented non-capacity expansion projects or strategies due to their benefits in improving flow, safety, and reducing delay in the transportation network at low capital, operations, and maintenance cost. The quantification of the benefits of these strategies has also become very important due to increasingly challenging local and regional fiscal conditions. With this in mind, this project developed a framework and a tool for the evaluation of economic development impacts of corridor improvements at the sketch-level of planning. The resulting framework and tool, called "Tool for Operations - Economic Impact Analysis" (TOPS-EIA), is based on a framework and tool from the Federal Highway Administration (FHWA) called Tool for Operations Benefit Cost Analysis (TOPS-BC). TOPS-EIA takes the expected impacts of each strategy on corridor performance and translates them into business cost savings and economic development impacts through a set of statewide economic multipliers. TOPS-EIA is subdivided into 4 modules: arterial signal coordination (ASC) strategies, traffic incident management (TIM) strategies, work zone management (WZM) strategies, and access management (AM) strategies. Additionally, a qualitative tool for road diet (RD) strategies was developed. To demonstrate TOPS-EIA, two case studies of ASC strategies were conducted. The results showed that this type of strategies could provide not only significant user cost savings, but also economic development impacts, expressed as gross regional product, job-years, and real personal income. The proposed methodology and tool can assist DOTs, Metropolitan and Rural Planning Organizations (MPOs and RPOs) in assessing the benefits of non-capacity expansion projects at the early and middle stage planning processes and, therefore, contribute to better-informed decisions.


Current Practices for Assessing Economic Development Impacts from Transportation Investments

Current Practices for Assessing Economic Development Impacts from Transportation Investments
Author: Glen Weisbrod
Publisher: Transportation Research Board
Total Pages: 88
Release: 2000
Genre: Business & Economics
ISBN: 9780309068734

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This synthesis report will be of interest to DOT administrators, supervisors, and staff, as well as to the consultants working with them in assessing the economic development impacts of existing or proposed transportation investments. Metropolitan Planning Organization regional and local staffs might also find it informative. It is intended to help practicing planners become aware of the range of methods and analysis techniques available, organized by the different categories of agency needs, to address different types of planning, policy, and research needs. This synthesis summarizes the current state of the practice by means of a survey of transportation planning agencies in the United States, Canada, and the United Kingdom. This report provides reviews of the analysis methods used in recent project and program evaluation reports of these agencies, in addition to a bibliography of economic literature and guides.


Transportation Decision Making

Transportation Decision Making
Author: Kumares C. Sinha
Publisher: John Wiley & Sons
Total Pages: 576
Release: 2011-09-09
Genre: Technology & Engineering
ISBN: 1118169662

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This pioneering text provides a holistic approach to decisionmaking in transportation project development and programming, whichcan help transportation professionals to optimize their investmentchoices. The authors present a proven set of methodologies forevaluating transportation projects that ensures that all costs andimpacts are taken into consideration. The text's logical organization gets readers started with asolid foundation in basic principles and then progressively buildson that foundation. Topics covered include: Developing performance measures for evaluation, estimatingtravel demand, and costing transportation projects Performing an economic efficiency evaluation that accounts forsuch factors as travel time, safety, and vehicle operatingcosts Evaluating a project's impact on economic development and landuse as well as its impact on society and culture Assessing a project's environmental impact, including airquality, noise, ecology, water resources, and aesthetics Evaluating alternative projects on the basis of multipleperformance criteria Programming transportation investments so that resources can beoptimally allocated to meet facility-specific and system-widegoals Each chapter begins with basic definitions and concepts followedby a methodology for impact assessment. Relevant legislation isdiscussed and available software for performing evaluations ispresented. At the end of each chapter, readers are providedresources for detailed investigation of particular topics. Theseinclude Internet sites and publications of international anddomestic agencies and research institutions. The authors alsoprovide a companion Web site that offers updates, data foranalysis, and case histories of project evaluation and decisionmaking. Given that billions of dollars are spent each year ontransportation systems in the United States alone, and that thereis a need for thorough and rational evaluation and decision makingfor cost-effective system preservation and improvement, this textshould be on the desks of all transportation planners, engineers,and educators. With exercises in every chapter, this text is anideal coursebook for the subject of transportation systems analysisand evaluation.