New Report Quantifies Economic Benefits of Transportation Investments
July 29, 2021
A new report released this week finds that upcoming spending on federal, state and local transportation infrastructure will generate nearly $200 billion in economic activity in California annually over the next decade and support 700,000 jobs per year. County-by-county breakdowns are available here. The report details the significant impacts of both new infrastructure projects as well as maintaining and repairing existing roads. Read a full news release about the report here.
According to the report, in the next 10 years, government investments in California’s transportation infrastructure will grow from $40.4 billion in 2021 to $52.6 billion in 2030. This equates to a return of $4.30 in economic activity for every dollar spent on the transportation system. Every $1 billion spent supports more than 15,000 jobs throughout the economy.
The unique report takes all transportation revenue streams into account – local, state, federal – and quantifies the economic benefits of these investments on California and local economies. The findings highlight the economic benefits that construction, maintenance, and operation of California’s highways, streets, bridges, and transit infrastructure have on every sector of the economy.
The research was conducted by Dr. Alison Premo Black, Chief Economist at the American Road & Transportation Builders Association (ARTBA) and released by the California Alliance for Jobs (CAJ), California Transit Association, California State Association of Counties (CSAC) and the League of California Cities (Cal Cities).
The release of the report comes with the launch of a new, searchable online database that can generate customized reports and break down the economic benefits in every county and region.