Economic Development Effects of INDOT Transportation Projects

Gkritza, Konstantina; Labi, Samuel; Sinha, Kumares C.

doi:10.5703/1288284313365

Cited by 9 publications

(7 citation statements)

References 38 publications

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“…Gkritza (56) estimated that 18,265 short-term jobs would be created per $1 billion (in 2010 $) investment of Indiana Long-Range Transportation Plan projects, which is comparable to our short-term estimates.…”

Section: Discussionsupporting

confidence: 77%

“…This is because we need to specify statewide econometric models based on information for only the past 16 years. Therefore, we adopted a simultaneous equation system developed by Gkritza et al (56) to estimate the benefit measures of long-term economic development based on attributes of project types. Only two project types could be considered (adding travel lane projects and new construction-related projects), accounting for almost 34% of all expenditures in total.…”

Section: Long-term Economic Impacts Analysis Of Adding Capacity Projementioning

confidence: 99%

“…They include new interchange construction on interstate facilities and upgrades from at-grade signalized intersections to grade-separated interchanges on non-interstate facilities. Interstate highway interchanges with a high degree of accessibility to employment have been found to generate more economic development benefits than median construction projects or new road construction projects on state roads in North or Central Indiana (56).…”

Section: Long-term Economic Impacts Analysis Of Adding Capacity Projementioning

confidence: 99%

“…To understanding the effects of INDOT investment on long-term statewide economic development impacts, it is necessary to study the long-term economic impacts of these projects. The expenditures were adjusted to 1996 dollars to facilitate use of the calibrated econometric models developed by Gkritza et al (56) The simultaneous equation system for lower bound estimates of highway investment impacts involving added-capacity projects is: …”

Section: Long-term Economic Impacts Analysis Of Adding Capacity Projementioning

confidence: 99%

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Measurement and Monitoring of the Performance of Highway Investment

Everett¹

2013

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Section: Discussionsupporting

confidence: 77%

Section: Long-term Economic Impacts Analysis Of Adding Capacity Projementioning

confidence: 99%

Section: Long-term Economic Impacts Analysis Of Adding Capacity Projementioning

confidence: 99%

Section: Long-term Economic Impacts Analysis Of Adding Capacity Projementioning

confidence: 99%

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Measurement and Monitoring of the Performance of Highway Investment

Everett¹

2013

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“…Gkritza et al (8) developed a quantitative tool that can be used by INDOT staff at the project development phase to estimate the economic development effects of different types of highway investments. REMI forecasts based on the economic downturn later in the first decade of the twenty-first century have projected weak economic recovery.…”

Section: Motivation Of Studymentioning

confidence: 99%

Socioeconomic Forecasting

Xiong¹,

Fricker²,

McNamara³

2012

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JOINT TRANSPORTATION RESEARCH PROGRAMThe Joint Transportation Research Program serves as a vehicle for INDOT collaboration with higher education institutions and industry in Indiana to facilitate innovation that results in continuous improvement in the planning, design, construction, operation, management and economic efficiency of the Indiana transportation infrastructure. https://engineering.purdue.edu/JTRP/index_html Published reports of the Joint Transportation Research Program are available at: http://docs.lib.purdue.edu/jtrp/ NOTICEThe contents of this report reflect the views of the authors, who are responsible for the facts and the accuracy of the data presented herein. The contents do not necessarily reflect the official views and policies of the Indiana Department of Transportation or the Federal Highway Administration. The report does not constitute a standard, specification or regulation. AbstractThe role of the REMI Policy Insight+ model in socioeconomic forecasting and economic impact analysis of transportation projects was assessed. The REMI PI+ model is consistent with the state of the practice in forecasting and impact analysis. REMI PI+, like its competitors, is vulnerable to the trends contained in the historical data it uses, especially recent trends. After the most recent periodic update in data, the performance of the REMI PI+ model improved, that is, it produced long-term forecasts that were more credible. Zonal-level population and employment forecasts for direct input to the Indiana Statewide Travel Demand Model (ISTDM) can be achieved by applying disaggregation regression methods. Indiana University's Center for Econometric Model Research (CEMR) model is also a sound forecasting model. Because of the knowledge of in-state economists, the CEMR-IBRC model could provide forecasts of the Indiana economy that reflect characteristics not known to out-of-state forecasters. The researchers also examined economic impact analysis models that are possible alternatives to REMI PI+. Acquiring a new economic impact analysis package does not seem necessary for INDOT, if REMI forecasts can be adjusted to (a) accommodate recent and reasonable expected trends in the Indiana economy, and (b) meet the geographic (TAZ) needs of the ISTDM. MCIBAS-which is currently used by the Indiana Department of Transportation-is a good hybrid system to use in the economic impacts analysis of transportation projects. Indiana University's CEMR is capable of conducting economic impact analyses, with local knowledge of the Indiana economy, at a cost lower than REMI's. However, INDOT would have to decide whether these potential advantages justify changing the present relationship with REMI. In cases where the credibility of data, forecasts, and/or impact analyses needs to be verified, an Because the traffic forecasts produced by the Indiana Statewide Travel Demand Model (ISTDM) are driven by the demographic and socioeconomic inputs to the model, particular attention must be given to obtaining the most accurate demographic an...

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