Economic Return from Transportation Investment -7a

Investment in transportation improvements has long been held as a major economic engine that drives growth in job creation, personal income and new value added to Missouri’s economy.

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*The methodology for calculating the Cumulative 20-year Output per $ Spent changed with the Economic Impact Analysis of the 2024-2028 STIP.  This change focuses on committed funds over the 5-year period of the MoDOT STIP.

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*The methodology for calculating the Jobs Created Annually (20-year average) changed with the Economic Impact Analysis of the 2024-2028 STIP. This change focuses on committed funds over the 5-year period of the MoDOT STIP.

Write Up:

Investment in transportation improvements has long been held as a major economic engine that drives growth in job creation, personal income and new value added to Missouri’s economy. 

Based on MoDOT’s 2024-2028 Statewide Transportation Improvement Program investment of $10.646 billion, the program is estimated to create 10,448 jobs annually. This represents a 9% and 12% increase respectively when compared to the 2023-2027 STIP. The average number of jobs created increased in line with the increase in expenditures.

Transportation investments are expected to contribute approximately $31.7 billion of economic output during the next 20 years, resulting in a $3.01 return on every $1 invested in transportation. This increase is credited to increased transportation funding in the 2021 Bi-Partisan Infrastructure Law and $3 billion in General Revenue for Legislatively Designated Road and Bridge projects and Multimodal projects. Missourians have consistently said they want MoDOT to take care of the existing system first, a $59 billion value that carries a $160 billion replacement cost.

Purpose of the Measure:

This measure tracks the economic impact resulting from the state’s transportation investments.  

Measurement and Data Collection:

MoDOT works with the HDR, Inc. to perform economic impact analyses for the state’s transportation investments. The analyses are performed using a model called the Impact Analysis for Planning. The IMPLAN model results demonstrate a strong link between transportation investment and economic development.

This target was set by analyzing historical performance. MoDOT would like to reach the performance level of $3.62 which is consistent with what was achieved in the 2014-2018 Statewide Transportation Improvement Program cycle. 

 

Result Driver

Contact Photo
Jerica Holtsclaw portrait
Jerica Holtsclaw
Title
Director
Department
Multimodal Operations
Contact Info

(573) 526-5616

Email: Jerica.Holtsclaw@modot.mo.gov

Measurement Driver

Monica Duncan
Title
Transportation Planning Specialist
Department
Transportation Planning
Contact Info

Email: Monica.Duncan@modot.mo.gov

Phone: (573) 526-7340