For press releases issued after to Jan. 20, 2012, see http://newsdesk.gmu.edu/category/press-releases/
Feb. 1, 2011
Research shows investment in HOT lanes, connectors and tunnels would improve Virginia’s economy and reduce traffic congestion
Fairfax, Va. – The completion of 16 major infrastructure projects would expand Virginia’s economy by $4.1 billion and support 56,798 additional jobs, according to research conducted by Stephen S. Fuller, a University Professor in the School of Public Policy and Director of the Center for Regional Analysis at George Mason University.
The research, supported by a contract from Virginia’s Secretary of Transportation, calculated the post-construction impact of the proposed projects to Virginia’s economy, including the gross state product, workers’ personal earnings and job creation.
Fuller found that the benefits generated by the transportation improvements exceed the costs and would have generated an additional $2.9 billion in new taxable earnings to Virginia's income base.
“Our research shows that the proposed transportation investments will increase Virginia’s competitive position for future economic growth,” says Fuller.
If in place today, the report shows that the transportation upgrades would improve traffic flow and reduce congestion costs, resulting in a reduction in transportation costs within the state’s economy; increase labor force efficiency or productivity resulting from recapturing lost work time and output value lost due to traffic delays; and reduce vehicle maintenance and fuel costs.
The full report “The Impact of Sixteen Proposed PPTA Mega Projects on the Commonwealth of Virginia Economy” is available online.
About George Mason University
Named the #1 national university to watch in the 2009 rankings of U.S. News & World Report, George Mason University is an innovative, entrepreneurial institution with global distinction in a range of academic fields. Located in Northern Virginia near Washington, D.C., Mason provides students access to diverse cultural experiences and the most sought-after internships and employers in the country. Mason offers strong undergraduate and graduate degree programs in engineering and information technology, organizational psychology, health care and visual and performing arts. With Mason professors conducting groundbreaking research in areas such as climate change, public policy and the biosciences, George Mason University is a leading example of the modern, public university. George Mason University—Where Innovation Is Tradition.
About the Center for Regional Analysis
The Center for Regional Analysis at George Mason University’s School of Public Policy conducts research and analytical studies on economic, fiscal, demographic, housing and social and policy issues related to the current and future growth of the Virginia, Maryland and D.C. areas. Through its range of research and programs – major economic impact studies, economic forecasts, fiscal analyses, conferences and seminars, publications, information services and data products – the center's activities strengthen decision-making by businesses, governments and institutions throughout the Greater Washington region.