TAILIEUCHUNG - Communities Benefit! The Social and Economic Benefits of Transportation Enhancements

Businesses can invest in modernizing equipment, but the impact of further declines in interest rates is likely to be limited. There is a large body of research that finds that investment is not very responsive to interest rates. 8 Furthermore, the rate of growth of equipment and software investment is already quite rapid, with growth averaging percent from third quarter of 2009 to the second quarter of 2010. It does not seem likely that lower interest rates will increase this rate substantially, especially in a context where demand is contracting due to budget cuts. There is. | The Social and Economic Benefits of Transportation Enhancements Table of Contents Introduction Case Studies 4 6 10 14 16 18 20 22 24 Union Station MS Lake Champlain VT Oregon Trail Center ID Heritage Rail Trail PA Holly Springs Depot GA River Heritage Museum KY Richmond Canal VA Bike Pedestrian Safety Rl Douglas Streetscape GA Independence Hall 1 1 1 TE Information Introduction The Social and Economic Benefits of Transportation Enhancements Communities across the nation know the benefits of investing in the creation or renovation of public places. Historic train depots bicycle and pedestrian trails roadway landscaping transportation museums and scenic easements are examples of public spaces that contribute to the concept of community. Through two transportation Acts the Intermodal Surface Transportation Efficiency Act CISTEA of 1991 and the Transportation Equity Act for the 21st Century CTEA-21 in 1998 Congress has made a billion funding source called Transportation Enhancements CTE available to the states for these types of investments. TE funds can help people create transportation-related resources that provide a host of benefits to their area. The 12 activities eligible for TE funds as defined in the law see page 24 for more detail span a broad spectrum of potential projects opening new possibilities for every locality based on what they decide will be of greatest benefit and what fills the greatest need. Each project is developed to serve the specific purpose of the TE activity such as facilitating safe travel by building bicycle paths or rehabilitating a historic railroad station for use by today s train passengers. But the benefits of TE projects go beyond what is actually created. 2 Communities Benefit Communities with TE projects often have experienced economic growth as a result of a TE project and social benefits such as healthier lifestyles spaces to encounter neighbors and renewed civic pride. These significant benefits may often be difficult to .

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