Reducing traffic congestion can have big economic benefits for communities, according to a new study from the Reason Foundation.
Billions of dollars worth of productivity and economic output can be gained through infrastructural and policy changes that reduce congestion, according to the study.
"Most major cities will find that wise infrastructure investments that eliminate gridlock and produce free-flowing road conditions will more than pay for themselves by boosting the region's economy, and thus tax revenues. The study shows that reducing congestion and increasing travel speeds enough to improve access by 10 percent to key employment, retail, education and population centers increases regional production of goods and services by 1 percent. While seemingly small in percentage terms, this leads to tens of billions of dollars for a region's employers and workers due to productivity and efficiency benefits."
Read the full story: Gridlock and Growth: The Effect of Traffic Congestion on Regional Economic Performance
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City of Wisconsin Rapids
Harvard University Graduate School of Design
KFH Group Inc.
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello