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Briefing on Comprehensive Value Analysis Framework for Transit Investments

National Capital Region Transportation Planning Board. Briefing on Comprehensive Value Analysis Framework for Transit Investments. June 6, 2008. HDR|Decision Economics. Comprehensive value analysis. Recognizes all benefits of transit: Mobility Congestion Management Economic Development.

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Briefing on Comprehensive Value Analysis Framework for Transit Investments

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  1. National Capital Region Transportation Planning Board Briefing on Comprehensive Value Analysis Framework for Transit Investments June 6, 2008 HDR|Decision Economics

  2. Comprehensive value analysis Recognizes all benefits of transit: • Mobility • Congestion Management • Economic Development

  3. Mobility • Time savings to transit users • Cash savings to low income households for allocation to housing, nutrition, child care … • Cross-sector benefits: reduced financial burden on social services

  4. Congestion Management • Reduced delay • Improved reliability, predictability and productivity • Reduced environmental emissions • Lower vehicle operating costs • Safety (lives, injuries, property)

  5. Economic Development Location Efficiency • High density economic activity (retail, commercial …) • Agglomeration economies • Less demand for motorized trips • Reduced auto-ownership requirements, dependence • Higher density life-style Measurement • Development benefits manifest and measured as increased economic land value Double Counting? • Capitalization of time savings? Only partially

  6. CASE: Light Rail (Austin, Texas) Transit investment generates value in all three categories

  7. CASE: Transit v. Highway Investment (Cincinnati, Ohio) Transit investment can outperform highway alternatives

  8. CASE: Streetcar Investment(Cincinnati, Ohio) Focus on ridership benefits alone can lead to the mistaken conclusion that a project is not economically worthwhile

  9. Considerations of Regional Transportation Planners Highway Transportation Options Transit Options

  10. Conclusions Comprehensive Value Analysis: • Is feasible and proven • Enables quantitative understanding of significance of transit investment for economic well-being • Facilitates understanding of development-based financing capacity of transit investment • Allows comparative ROI ranking of alternative transit scenarios for the region • Allows comparative ROI ranking of alternative transportation scenarios to find the best-value

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