Economic and Development Implications of Transportation Disinvestment. A Synthesis of Highway Practice. A Synthesis of Highway Practice.

摘要

This synthesis addresses the economic implications of disinvestment (intentionally or unintentionally funding transportation facilities at levels below those required to maintain them in their current function) and focuses on ways that agencies can make decisions about disinvestment when funds are limited. As the 21st century progresses, it is becoming increasingly evident that it will not be possible to simply transition from an era of highway and bridge expansion to an era of preserving existing facilities as built. As America’s highways, bridges, and other facilities age, geographic shifts change where the needs are the greatest; many of the nation’s oldest and most costly facilities are serving geographic markets with dwindling population and employment. At the same time, the costs of preserving existing facilities prevent investment in new and growing areas that are currently underserved. These changes point to the need for a new paradigm of strategic investment in which decision makers consider not only the strategic use of transportation money to support new or existing assets, but also critically examine the most efficient use of transportation facilities and how to prepare for investment or disinvestment over time. This report contains a literature review that summarizes prior research conducted on economic implications of disinvestment, under-investment, and related decisions. It also assesses the ability of available models and tools to support strategic disinvestment scenarios through consideration of economic implications. In addition, the synthesis draws on a survey of state transportation officials and a series of case examples illustrating the current practices of some transportation agencies.