Better Use of Public Dollars: Economic Impact Analysis in Transportation Decision Making

 

External link: https://www.enotrans.org/wp-content/uploads/2015/09/Public-Dollars4.pdf

Publication date: June 1, 2012

Capsule summary: This policy research paper investigates methods of using economic impact analysis for a more effective, transparent, and accountable use of transportation funding.

Author(s): Norboge, Nicolas

Publisher(s): Eno Center for Transportation


Definition: Financial strategies and techniques for transportation planning
Digest Search Results Page: https://www.planningdigest.com/research-theme/financial-strategies/
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Definition: A federally funded transportation policy-making organization, comprised of local government representatives and transportation authorities
Digest Search Results Page: https://www.planningdigest.com/org/mpo/
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Definition: Governmental agency focused on transportation
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Definition: A preliminary scientific or technical paper.
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Description: Investments in transportation infrastructure and policymaking are effective methods to stimulate short term and long-term job creation and economic growth. Different types of investments have varying degrees of return due to differing budgets and limitations on funding to the transportation industry on every level of government. This policy research paper discusses methods of analyzing economic impact and using such analysis as a tool for comparison to ensure the most return of long term investments. The case studies within the paper highlights examples of effective usage of impact analysis and can serve as models for new programs.

Objectives: The objective of this policy research is to encourage state governments to use economic impact analysis by learning about the benefits and shortcoming of models in states that have already implemented such policy. The paper emphasizes that implementation of such models allows for a transparent ad effective use of government funding to promote long term economic growth and strength in transportation infrastructure.

Findings: The research of policies and analysis of public opinion polls finds that it is necessary for policymakers to be transparent about the use of public funding in the transportation industry. The paper concludes that using examples of results of past models proves the effectiveness of using economic impact analysis.

Recommendations: The paper recommends state governments to implement policies and make investments in the transportation industry by comparing, analyzing, understanding the outcomes through effective methods that some states currently use. The paper also encourages states to forge a stronger relationship with economic analysis programs before making large investments.

Research Theme: Financial Strategies

Community Type:

Transportation Mode:

Planning Scope:

Organization Type: DOT, MPO or RPO

Planning Subject: Analysis, Decision Making, Evaluation and Assessment, Facility or Land Use, Forecasting, Planning Methods, Strategic Planning, Transportation Planning