by Glen Weisbrod, (c) Economic Development Research Group, 2007.

Analysis Inputs

1. Recognize multimodal implications, such as how a highway project can also affect travel patterns and access to airports, marine ports, rail intermodal terminals and/or international trade routes.

2. Recognize the potential value of connectivity and reliability improvements for both commuting and goods movement, and obtain measures of changes in those factors.

3. Recognize the potential for impacts to hit certain industries that particularly depend on the reliability and functionality of specific modes, travel routes and terminals.

Analysis Models and Tools

4. Use analysis methods that can help assess not only travel time and cost impacts, but also the reliability and access impacts that can result from changes in transportation connectivity, intermodal interchanges, international gateways, and links to other modal terminals and services.

5. Use analysis methods that can help identify when transportation impacts can be magnified or constrained by other factors affecting regional economic growth, such as local utility infrastructure, financing and supportive capacity for growth, as well as local labor force size and training.

6. Use analysis methods that can separate economic (flow of dollar) impacts from value of benefits that do not directly affect the flow of dollars to avoid confusion

Results

7. Distinguish forms of impact: (a) economic, (b) social and (c) environmental effects.

8. Distinguish areas of impact: (a) local, (b) state, (c) national and (d) global impacts, as appropriate for those who will be using the analysis results.

9. Distinguish perspectives for measuring dollar changes: (a) savings for travelers, (b) savings for all users including freight shippers and recipients, (c) generation of income in the economy, and (d) the value of all benefits to society.

10. Distinguish economic development impact measures from benefit/cost measures that may also be of interest.