Practices for Evaluating the Economic Impacts and Benefits of Transit (2017) / Chapter Skim
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Pages 18-37
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From page 18... ...
18 chapter three LocaL appLication of anaLysis Methods overview Although the preceding chapter focused on national studies, this chapter reviews the range of local analyses studies and the methods they employ to assess the effects of specific transit investments, projects, and programs. It is organized to distinguish the analysis methods applied to each of the following four types of studies: 1.
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19 approach These studies calculate how an existing transit agency currently supports jobs and income in the economy of a specified region. They show how the transit agency operating and capital budgets generate (1)
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20 however, each also includes a section that analyzes spending impacts. These studies are compared in two tables and then individually discussed in terms of notable aspects of the study analysis methods and terminology used.
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21 used to also assess SEPTA impacts on property values and tax revenues (compared with a scenario in which SEPTA service is not adequately funded)
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22 A distinguishing aspect of these studies is that they are scenario-based analyses -- intended to portray the difference that a proposed project or investment would make in expected future economic conditions. The future scenario is typically portrayed for a designated year after the project is completed or a target year selected for long-range planning purposes.
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23 reviewed studies Seventeen studies that assess proposed programs and projects are reviewed. These studies are compared in two tables and then individually discussed in terms of notable aspects of the study analysis methods and terminology used.
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24 in this brief is related to Metro's commitment to purchase 235 railcars to expand transit capacity throughout the region. The Vancouver (British Columbia)
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25 posed by the Chicago Regional Transit Authority. The analysis considers four alternative scenarios: a base case that includes no new funding for transit; a maintain case that includes funding needed to provide existing service and maintain existing ridership levels; an expansion in service quality, frequency, and geographic coverage; and an "expand and plan" scenario that pairs expansion with land-use practices that encourage transit-oriented development.
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26 rapid transit line for the MetroLinx transit system, to connect McMaster University with downtown Hamilton, Ontario. Three options have been developed for the B-Line corridor: BRT, LRT, and LRT developed in phases.
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27 calculate a change over time, and steps are then taken to determine attribution of credit; that is, the extent to which the transit facility or service can be credited as causing the change. The most direct economic measures of change are jobs, building investment, and business sales; however, sometimes measures of property value, property sales, and/or property tax revenue are used as indicators of economic change.
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28 the statistical studies also include local interviews to better ascertain the attribution of credit for observed impacts. The observed outcome (change)
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29 The SHRP 2/EconWorks study is a database of transportation project case studies that feature economic impact measurements. The database grew out of the federal SHRP 2 project, which originally funded a series of highway economic impact case studies, and later expanded the cases to include nine passenger intermodal projects -- rail transit stations located along highways to support intermodal passenger rail stations.
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30 However, there is a second type of benefit study that focuses specifically on segments of the population or specific neighborhoods, and then counts benefits associated with a redistribution of investment to those target groups or areas. For instance, a project that enhances mobility for carless, elderly households may be seen as beneficial in terms of reducing social service costs.
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31 to calculate travel time and cost savings benefits, whereas all four of the BCA studies rely on regional travel model results. Table 10 summarizes forms of benefits that were measured and valued in the studies.
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32 The Tennessee study was conducted by Oak Ridge National Laboratory (Southworth 2005)
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33 benefits to residents, and an I-O multiplier model was applied to calculate broader economic impacts. Total benefits for an average year were compared with average annual transit O&M costs.
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34 travel, safety, and environmental benefit categories, but also added the benefit of saving on social service costs owing to better mobility for ride-dependent households. It is notable for showing how benefit–cost ratios can differ depending on whether benefits for road users are also counted.
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35 The EIS become particularly useful for transit analysis because they can be tailored to capture impacts on specified (small or large) areas served by transit.
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36 accessibility gains in other ways, most often as reducing the cost for dependent households to access employment, education, and health care destinations (to be discussed later)
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37 • Formal BCA studies consider the opportunity cost of transit and highway spending; therefore, cross-allocations of costs do not matter unless they also affect multi-modal performance measures of service quality or net public expenditures. • EIS usually ignore this effect, which they view as transfers between households, government, and business sectors of the economy that have no impact on jobs and income unless they lead to shifts in business costs, productivity, or capacity for continued economic growth.
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