Implementation of Action 6 of the California Sustainable Freight Action Plan (CSFAP) Phase 4: Tracking Economic Competitiveness Final Report Part 2: Economic Impacts of Investment in Public Truck Parking Facilities in California

Details

• Alternative Title:
  Economic Impacts of Investment in Public Truck Parking Facilities in California
• Creators:
  Wei, Dan ; Giuliano, Genevieve ; Joy, Ahsan Habib ; Binder, Robert B ; Chakraverti, Dhruv ; Rajwaday, Sharvari
• Corporate Creators:
  METRANS Transportation Center (Calif.) ; Pacific Southwest Region 9 UTC, University of Southern California ; University of Southern California ; University of Southern California. Sol Price School of Public Policy
• Corporate Contributors:
  United States. Department of Transportation. University Transportation Centers (UTC) Program ; United States. Department of Transportation. Office of the Assistant Secretary for Research and Technology ; California Department of Transportation
• Subject/TRT Terms:
  Competition Economic Analysis Economic Conditions Economic Impact Analysis Economic Impacts Freight Handling Parking Facilities Regulation Truck Parking Truck Facilities
• Publication/ Report Number:
  PSR-21-SP80
• DOI:
  https://doi.org/10.25554/0hyx-aj65
• Resource Type:
  Tech Report
• Geographical Coverage:
  California;United States
• Edition:
  Final report (August 15, 2021 – December31, 2023)
• Corporate Publisher:
  Pacific Southwest Region 9 UTC, University of Southern California
• Abstract:
  The purpose of this research is to examine the macroeconomic impacts of eliminating the statewide truck parking shortage. We compare the costs of constructing and operating the additional spaces with the savings in productivity, emissions, and safety. We estimate the magnitude of the parking shortage for the period of 2025-2035. We estimate a total shortage of about 7,000 spaces by2035. Total capital costs are $579 million, and the annual operations and maintenance cost is about $15.3 million. We estimate the value of costs avoided by eliminating the parking shortage. The largest savings is in safety, at $3.7 billion in avoided deaths and injuries. Macro-economic impacts are estimated using the REMI- PI+ model. Total impacts on gross state product (GSP) in net present value (NPV) is $964 million, about two thirds of which is due the stimulus from construction. Results depend on assumptions of capital funding sources. We conclude that eliminating the truck parking shortage in California would lead to modest but positive macroeconomic impacts even if some of the funding were taken from existing state programs. It would also result in significant safety impacts.
• Format:
  PDF
• Funding:
  69A3551747109 Caltrans TO 043
• Collection(s):
  University Transportation Centers
• Main Document Checksum:
  urn:sha-512:1d245cce2c97d21c2397c9c1d224a46a35d1ac47a295f8726d4e28bfe32d3b72bb05a16d3122a561e2ad2b676c0b972218920348861f74c07f3c49abd43123ee
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/77398/dot_77398_DS1.pdf
• File Type:
  [PDF - 5.02 MB ]