Think this might have bounced...if a dup, sorry.
The fine folks at VTPI (Victoria Transport Policy Institute) have once again
produced a timely and well considered report.
-Dar
"Smart Transportation Economic Stimulation: Infrastructure Investments That
Support Strategic Planning Objectives Provide True Economic Development"
( www.vtpi.org/econ_stim.pdf )
Summary
This timely new report discusses factors to consider when evaluating
transportation economic stimulation strategies. Transportation investments can
have large long-term economic, social and environmental impacts. Expanding
urban highways tends to stimulate motor vehicle travel and sprawl, exacerbating
future transport problems and threatening future economic productivity.
Improving alternative modes (walking and cycling conditions, and public transit
service quality) tends to reduce total motor vehicle traffic and associated
costs, providing additional long-term economic savings and benefits. Increasing
transport system efficiency tends to create far more jobs than those created
directly by infrastructure investments. Domestic automobile industry subsidies
are ineffective at stimulating employment or economic development. Public
policies intended to support domestic automobile sales could be economically
harmful in the long-term.
Conclusions
Many types of public investments can stimulate short-term employment and
economic activity but some are better overall because they also support other
strategic goals. Smart economic stimulation responds to future demands and
helps achieve various economic, social and environmental objectives. This study
indicates that highway rehabilitation and safety programs are economically
beneficial, but urban highway expansion tends to stimulate more driving and
sprawl, exacerbating transportation problems. Demographic and economic trends
reduce highway expansion benefits and increase demand for high quality
alternatives. Investments that improve alternative modes tend to provide
greater total benefits.
Increasing transport system efficiency is particularly important for long-term
economic development. Vehicle and fuel purchases generate fewer domestic jobs
and less economic activity than most other consumer expenditures. Each million
dollar shifted from purchasing fuel to a typical bundle of consumer goods adds
4.5 U.S. jobs, and this is likely to increase significantly in the long run as
international oil prices rise and domestic production declines. Each million
shifted from general motor vehicle expenditures (purchase of vehicles,
servicing, insurance, etc.) adds about 3.6 U.S. jobs. Public transit operations
create a particularly large number of jobs.
A reasonable scenario of aggressive fuel economy targets, investments in
alternative modes and supportive land use policies can reduce U.S. fuel
consumption 20-40%, saving future consumers $150-350 billion annually in fuel
and vehicle expenses, providing economic benefits from reduced fuel import
costs of similar magnitude, producing additional economic, social and
environmental benefits, and generating 1 to 2 million additional annual
domestic jobs. This equals the total (not annual) jobs created by $30 to $60
billion of infrastructure expenditures and is five to ten times greater than
the jobs provided by domestic vehicle manufactures.
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