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Socio-Economic Benefits of Transit in Wisconsin. Phase 2: Benefit Cost Analysis.
| 题名： | Socio-Economic Benefits of Transit in Wisconsin. Phase 2: Benefit Cost Analysis. |
| 关键词： | PUBLIC TRANSPORTATION; SOCIOECONOMICS; TRANSIT INDUSTRIES; WISCONSIN |
| 摘要： | This study furthers the research begun in 2003 (The Socioeconomic Benefits of Transit in Wisconsin). There were two principal objectives of the study. First, to perform a thorough cost-benefit analysis of transit in the state, where all transit benefits and costs are assessed and compared over the life cycle of the investment (20 years in the case of transit capital investment projects). Second, to develop a comprehensive benefit-cost analysis model that decision-makers could use for quantifying transit benefits under various funding scenarios. The study methodology followed three steps. First, update the 2002 transit benefit and cost estimates to 2004 levels to serve as baseline for the analysis. Second, quantify the relationship between funding and transit service (and ultimately ridership) in Wisconsin. Ridership is a key determinant of transit benefits. Third, assess the benefits and costs of transit over a 20-year period (2005-2024). Step 2 allowed an estimate of the number of transit trips associated with a change in transit funding. This estimate was then translated into trips by trip purpose in order to assess the annual socioeconomic benefits of transit for each year in the analysis period. Investigators summarized the results of their cost-benefit analysis under three state funding scenarios: no annual increase in state funding over the next 20 years, a 2.5%annual increase, and a 2.5%annual decrease. Under all three scenarios transit benefits outweigh transit costs in Wisconsin: the net present value (benefits minus costs) of transit is always positive. A 2.5%annual increase in state funding would produce a net present value of $8.2 billion by 2024, for a return of $3.61 on each dollar spent on transit. A 0%change in funding would produce a net present value of $6.9 billion and a return of $3.44 per dollar invested. A 2.5%decrease in funding would produce a $6 billion net present value and a $3.32 return. |
| 报告类型： | 科技报告 |
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