Estimating the Economic Impacts of Multimodal Transportation Improvements
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2016-02-01
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Edition:Final Report
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Abstract:Project selection and prioritization is of the utmost importance to federal, state and local agencies, and should be performed cautiously based on the estimated project costs and benefits. Informed resource allocation decisions among project candidates maximize public investment benefits and create economic opportunities that ultimately improve the quality of life. The objective of this research is to quantify the broader economic impacts of different types of transportation infrastructure investment. The research team integrated the Maryland Statewide Transportation Model with the SHRP2 C11 tools and showcased this integration through four (4) case studies. Using the SHRP2 C11 suite of tools (“Development of Improved Economic Analysis Tools), the authors estimate the improvement of travel time reliability and the changes in market access in the study area following the new investment, in performance and monetary terms.
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