Framework and Tools for Estimating Benefits of Specific Freight Network Investments (2011) / Chapter Skim
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Pages 101-112
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From page 101... ...
Public decision criteria are more complex and may take the following factors into account: • Does the project deliver positive net benefits when all public and private benefits and costs are taken into account? • Does the project deliver net public benefits when only public benefits and costs are taken into account?
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From page 102... ...
Highway investments are expected to lead to travel efficiencies, including reductions in travel time and distance (and thus vehicle operating costs) , as well as potential safety and environmental enhancements.
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From page 103... ...
Total Costs Elasticity of Industry Output with Respect to Transportation Cost Savings Economic Simulation Model Total Economic Impact Metrics (jobs, income, output, tax base) Total Reduction in Transportation Costs by Industry Distribution Cost Savings to Industries Increase in Output by Industry Additional Supply Chain Benefits Change in User Operating Costs (by Truck, Auto)
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From page 104... ...
from the previous step. • Estimate other cost savings, including reduced vehicle operating costs, emissions reduction, safety savings, potential changes in pavement costs, and changes in cargo loss and damage.
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From page 105... ...
Total Costs Elasticity of Industry Output with Respect to Transportation Cost Savings Economic Simulation Model Total Economic Impact Metrics (Jobs, Income, Output, Tax Base) Total Reduction in Transportation Costs by Industry Distribution Cost Savings to Industries Increase in Output by Industry Additional Supply Chain Benefits Rail Investment Module Figure 6.2.
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From page 106... ...
To capture those impacts, the highway and/or rail investment modules may need to be included within the port module. The Framework module used to assess port investment impacts is presented in Figure 6.3 106 Marine and Airport Expansion/ Improvement Congestion Relief and Reduced Transport Costs Change in Volume of Trade Reduction in Travel Costs to Major MarketsSurfaceTransport Benefits from Rail and/or Highway Module Elasticity of trade attraction with respect to transport time to major markets Percent of Trade Diverted by Cargo Type Change in Port Volumes Mode Split Between Rail and Truck Change in Surface Transportation Impacts by Mode Total Surface Transportation Impacts by Mode Direct Economic Impacts Jobs, Income, Output, Tax Revenue Baseline Forecasts of Total Trade Volumes Number of Jobs per Unit (value, tons, TEU)
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From page 107... ...
The Framework classifies project type by the following general categories: • Air impacting highway, • Cargo handling facility, • Highway improvements, • Intermodal connector, • Rail improvements, • Grade crossings; • Port expansion, and • Barge services. Other categorizations may be useful in recognizing that the primary purpose of identifying the project type is to determine the type of improvements being made, the specific performance improvements that are expected, the modes that will be affected, the types of shipments/freight that will be impacted, and the relevant stakeholders.
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From page 108... ...
Economic Development Potential Size of Cargo Facility Output Effects by Industry Change in Employment by Industry Net Output Effects by Industry Regional Competitiveness and Redistribution Effects Direct Economic Impacts Jobs, Income, Output Tax, Revenue Economic Model Total Economic Impacts Highway Impact Module Rail Impact Module Jobs, Income, Output Tax, Revenue Elasticity of Facility Employment with Respect to Cargo Volumes Output from highway and rail modules Elasticity of Industry Growth with Respect to Transportation Access Figure 6.4. Cargo handling facility investment evaluation.
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From page 109... ...
Railroad, Washoe County, the State of Nevada, the City of Reno, regional businesses, and the project area community. It is important to note that since the freight infrastructure investment is a partnership between public- and private-sector agents, stakeholders often hold dual roles.
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From page 110... ...
Reduced delays associated with delivery uncertainty can translate into reduced 110 Benefit Type Benefit Metric Public Sector Service Provider Shipper/End User Other Impacted Party Private-Sector Asset Provider Capacity Transportation Cost Savings Safety Crash Reductions Environmental Quality Emission Reductions Scheduling/ Reliability Reliability Improvements Facility Maintenance Costs Pavement/Track Maintenance Savings Loss and Damage Pavement/Track Conditions Productivity Asset Velocity Economic Development Jobs, Income, Industry Output Tax Revenue Tax Base Impact Facility Capital Costs Facility Costs Table 6.2. Benefit metrics by benefit and stakeholder type.
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From page 111... ...
Step 4 -- Identify Cost Categories and Estimate Costs The costs of a constructed facility or implemented technology to the owner include both the initial capital cost and the subsequent operation and maintenance costs, as described earlier. Although there are many sources of costs, it is critical to calculate both capital costs (i.e., the expenses related to the initial establishment of a facility)
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From page 112... ...
An example from the Tchoupitoulas Corridor Improvements case study is illustrative of this approach to risk analysis. The element of risk is included in the analysis due to uncertainty in future port growth.
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