Monday, October 22, 2012

Ohio transportation panel begins economic study

The Ohio Department of Transportation's Transportation Review Advisory Committee (TRAC) on October 17 launched an Economic Impact Analysis with a kickoff webcast and survey geared to the state's business and economic development leaders.

The six-month study, to be conducted by the Boston-based Economic Development Research Group, is meant to examine the accuracy of economic factors used by TRAC in its prioritization process and the degree to which assessment strategies such as modeling, stakeholder outreach, and public input should be implemented.

Established in 1997, the nine-member TRAC is responsible for overseeing major new capacity projects costing more than $12 million. Currently, community and economic development and growth factors make up 25 percent of the panel's project scoring process.

Recommendations should be completed by the release of TRAC's annual Major New Funding List next April or May.

The program has funded $319 million in projects for fiscal year 2013 and $140 million in projects for fiscal year 2014. Locally, TRAC has pledged funding to the Brent Spence Bridge, I-75 Mill Creek Expressway, Thru the Valley, Eastern Corridor and I-71 Uptown Access Study projects.

Previous reading on BC:
Streetcar tentatively awarded $15M, other projects recommended (3/22/10)
Port study would examine impacts of fourth Mill Creek rail main (9/30/09)