Development of Improved Economic Analysis Tools Based on Recommendations from Project C03

To address the challenges of moving people and goods efficiently and safely on the nation's highways, Congress has created the second Strategic Highway Research Program (SHRP 2). SHRP 2 is a targeted, short-term research program carried out through competitively awarded contracts to qualified researchers in the academic, private, and public sectors. SHRP 2 addresses four strategic focus areas: the role of human behavior in highway safety (Safety); rapid highway renewal (Renewal); congestion reduction through improved travel time reliability (Reliability); and transportation planning that better integrates community, economic, and environmental considerations into new highway capacity (Capacity). Under current legislative provisions, SHRP 2 will receive approximately $150 million with total program duration of seven years. Additional information about SHRP 2 can be found on the program's web site at www.TRB.org/SHRP2. There are several objectives for Capacity Project C11. The main objective will be to statistically examine the relationships among variables in the C03/T-PICs case study dataset and to develop a suite of straightforward, transparent, and useful open source statistical forecasting models/tools that function at a level between the C03 case study-based web tool (which is essentially descriptive in nature) and more complex, economic impact assessment models/tools such as IMPLAN and REMI. This new suite of models and tools should use parameters gleaned from the full complement of C03 case studies and other readily available data sources. Inputs for the suite of forecasting tools should include characteristics of project and characteristics of setting. Outputs should mainly provide the range of reasonable expectations for a proposed project by major economic impact/economic development performance measures. The suite could represent a series of models, from very simple to moderately complex, but will certainly provide outputs beyond the meta-analysis of the case study data being done as part of ongoing SHRP 2 Capacity project C03. Principal users of the suite of tools/models are expected to be state DOT and MPO planners/technicians in support of decision makers; users typically will not be economists and probably will not have extensive economics training.

Language

  • English

Project

  • Status: Completed
  • Funding: $600000.00
  • Contract Numbers:

    Project C11

  • Sponsor Organizations:

    Strategic Highway Research Program 2

    Transportation Research Board
    500 Fifth Street, NW
    Washington, DC    20001
  • Project Managers:

    Plazak, David

  • Start Date: 20100309
  • Expected Completion Date: 0
  • Actual Completion Date: 20130731
  • Source Data: RiP Project 16658

Subject/Index Terms

Filing Info

  • Accession Number: 01462674
  • Record Type: Research project
  • Source Agency: Transportation Research Board
  • Contract Numbers: Project C11
  • Files: TRB, RiP
  • Created Date: Jan 3 2013 2:08PM