A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Impacts of Transportation Infrastructure Investments and Options for Sustainable Funding
The long-term viability of the motor fuels tax as a primary funding mechanism for transportation has been questioned for its effectiveness into the future. Vehicle fuel economy improvements, coinciding with substantive real purchasing power losses of the federal motor fuels tax in the United States (the federal tax rate has not been adjusted for inflation since 1993), have created uncertainty about how the motor fuels tax could sustainably finance the transportation system needs. Transportation agencies face historical revenue shortfalls, and important parts of the infrastructure require maintenance to sustain or improve their conditions.
The State of North Carolina currently invests approximately $5 billion annually in its transportation system. This investment enables the state to achieve an overall infrastructure rating of mediocre. In this condition, the state is facing serious challenges affecting driver safety and economic productivity. Our economic analysis demonstrated that highway construction projects lead to immediate positive economic impacts in as few as two years after project completion. One key finding illustrated that the number of businesses within one mile of NC highway projects increased by 73% a rate that is 48% higher than the growth of business establishments within one mile of unimproved NC highways. Other studies have shown that the time to make capital investments, such as infrastructure, often has the most value in times of recession with increased spending and job creation.
Impacts of Transportation Infrastructure Investments and Options for Sustainable Funding
The long-term viability of the motor fuels tax as a primary funding mechanism for transportation has been questioned for its effectiveness into the future. Vehicle fuel economy improvements, coinciding with substantive real purchasing power losses of the federal motor fuels tax in the United States (the federal tax rate has not been adjusted for inflation since 1993), have created uncertainty about how the motor fuels tax could sustainably finance the transportation system needs. Transportation agencies face historical revenue shortfalls, and important parts of the infrastructure require maintenance to sustain or improve their conditions.
The State of North Carolina currently invests approximately $5 billion annually in its transportation system. This investment enables the state to achieve an overall infrastructure rating of mediocre. In this condition, the state is facing serious challenges affecting driver safety and economic productivity. Our economic analysis demonstrated that highway construction projects lead to immediate positive economic impacts in as few as two years after project completion. One key finding illustrated that the number of businesses within one mile of NC highway projects increased by 73% a rate that is 48% higher than the growth of business establishments within one mile of unimproved NC highways. Other studies have shown that the time to make capital investments, such as infrastructure, often has the most value in times of recession with increased spending and job creation.
Impacts of Transportation Infrastructure Investments and Options for Sustainable Funding
Sustain. Civil Infrastruct.
Akhnoukh, Amin (editor) / Kaloush, Kamil (editor) / Elabyad, Magid (editor) / Halleman, Brendan (editor) / Erian, Nihal (editor) / Enmon II, Samuel (editor) / Henry, Cherylyn (editor) / Findley, Daniel J. (author) / Bert, Steven A. (author) / Head, Weston (author)
International Road Federation World Meeting & Exhibition ; 2021 ; Dubai, United Arab Emirates
2022-04-21
16 pages
Article/Chapter (Book)
Electronic Resource
English
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