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Title	Early Stage Benefit Cost Analysis for Estimating Economic Impacts
Accession No	01032957
Authors	Kreis, Doug ; Howell, Brian ; O'Connell, Lenahan
Corp. Authors / Publisher	University of Kentucky, Lexington ; Kentucky Transportation Cabinet
Publication Date	20060600
Edition	Final Report
Description	59p; Appendices(7); Figures; Tables
Media Type	Web
Languages	English
Abstract	This study reviewed the various software packages and other methods in use for estimating the economic impacts of proposed transportation projects. A total of 13 economic software packages were examined as potential applications in meeting Kentucky Transportation Cabinet's (KYTC’s) business needs. It was determined that only the TREDIS model from the Economic Development Research Group, Inc. or the TranSight model from Regional Economic Models, Inc. could potentially meet Kentucky’s needs as defined in the project. Both the TREDIS model and the TranSight model are comparable in their economic forecasting abilities. They are also similar in that both require the input of data from a travel demand model—usually HERS. The economic benefit outputs for both models are the same including predicted: employment by industry; output by business/industry; wage rates; and gross domestic/regional product. The TREDIS model appears to calculate economic benefits for a wider range of transportation projects, mostly the smaller scale types such as intersection reconstruction. But the REMI-TranSight model will be more economical to acquire and run over the long term and has a longer list of clients.
TRT Terms	Benefit cost analysis ; Economic benefits ; Economic impacts ; Intersections ; Reconstruction ; Software packages ; Transportation ; Travel demand
Subject Areas	I10 Economics and administration; H14 FINANCE; H13 FORECASTING; H12 PLANNING; I72 Traffic and transport planning
Contract Number	SPR3O6
Report Number	KTC-06-11/SPR3O6-05-1F
Availability	Kentucky Transportation Cabinet
URLs	Document: http://www.ktc.uky.edu/Reports/KTC_06_11_SPR_306_05_1F.pdf
TRIS Files	HRIS
Database	TRIS Online

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