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NTTA Releases Economic Impact Study The study, conducted by Dr. Bernard L. Weinstein at the Center for Economic Development and Research at the University of North Texas, validates that the decades of NTTA toll projects have been a major partner in the economic development efforts put forth by surrounding cities, counties, chambers of commerce, economic development corporations and private investors.
“We rely on highly sophisticated projections of traffic and revenue to make our decisions about the location and timing of new toll roads,” said Allan Rutter, executive director of the NTTA. “Dr. Weinstein’s study is the first we have commissioned to put tollway economics in the context of regional development. What has resulted is a way for us and the communities we serve to measure how well the NTTA is fulfilling its mission statement, which asserts in part that we strive to ‘improve the mobility, quality of life and economy of the North Texas region.’”
In addition to the $28 billion addition to the North Texas region in property valuations, the study reveals that another $562 million annually is collected by local governments in ad valorem revenues along the toll road corridors. The Study also reveals that annual toll road operations generate approximately $88 million for the local economy and support more that 1,000 jobs.
Dr. Weinstein’s study compared the region of Dallas and Collin counties where toll roads have been built with a similar geographical region without such development. The contrast highlights the influence of the Dallas North Tollway (DNT) and President George Bush Turnpike (PGBT) in population expansion and economic growth to the north.
The study concludes that the toll road system is a regional economic generator and projects that the Dallas-Fort Worth Metropolitan area will continue to grow at an annual rate of three percent with a projected population of 10 million in 2030. With 25% of Texas’ population, the DFW region is expected to account for 35% of the state’s job growth. The study states that “Without ease of mobility, the DFW Metroplex could never have become the fifth largest metropolitan region in the country.” The conclusion is that, “Our excellent system of roadways helps to bind the region economically and facilitate movement of people and product.”
For more information and a copy of the complete NTTA Economic Impact Study, please go to the www.ntta.org to “About NTTA, News Center.”
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