Road Investment to Foster Local Economic Development

摘要

The study explores the questions of how to define, measure, and evaluate the economic development effects of highway investment. The Iowa RISE (Revitalize Iowa's Sound Economy) program is used as a case study. The report establishes that when highway investment promotes economic development, it is also justified on the basis of efficiency. The report then applies the general principles of efficient highway investment in six paradigms. The paradigms illustrate various kinds of situations that confront policy makers assessing the potential impacts of a highway project on an area's economic development. The document also suggests five questions that can serve as 'screens' for identifying projects that have a high probability of promoting economic development.