News & Updates

Innovative Approaches for Measuring and Capturing the Economic Benefits of Public Transportation


DPFG's Bill Bishop was one of three presenters on May 5th before an infrastructure, investment, working group of the Senate Banking Committee (Committee on Banking, Housing, and Urban Affairs). The subject matter was: "Innovative Approaches for Measuring and Capturing the Economic Benefits of Public Transportation."

He presented background, findings, and recommendations of the "Guide to Value Capture Financing for Public Transportation Projects", recently published by the National Academies of Sciences on behalf of the Transit Cooperative Research Project (TCRP), of which he was coauthor and senior investigator. They also discussed the white paper he and Lucy Gallo prepared for GoTriange in 2015: "Consideration of Economic Development Potential: Light Rail Transit in Durham and Orange Counties, North Carolina." Which, was written in response to a request by GoTriangle to combine consideration of prospective economic development impacts and direct economic impact related to the proposed Durham-Orange Light Rail Transit line.

Finally, he presented preliminary findings and conclusions of current research he is conducting: "Value Capture Relevant Value Creation Resulting from Proximity to Light Rail Transit Stations" (differences in analysis of differential assessed valuation growth surrounding 229 stations within 14 U.S. light rail transit systems between 2005 and 2015).

The round-table-like discussion, following presentations was wide ranging and included; federal transit infrastructure investment strategy and objectives, measurement of induced value creation, strategies and institutional requirements for successful value capture, regulatory and approval processes, workforce and affordable housing (including consideration of housing as infrastructure and as a tool for economic development), economic structural transformation in the U.S. (and globally), and evolving transportation and energy technologies and paradigms.