Posts tagged with IT3
With the nation’s economy experiencing so many interrelated failures, investors in the stock market have experienced the equivalent of a financial root canal. After feeling that huge jolt of pain, people are devoting their attention to two things:
1. Making the best use of the resources they have
2. Finding a safe place to get a good return on their investment
It’s no different for policymakers in Georgia, as they come to grips with the challenge of fixing what is regarded as the nation’s second-worst traffic on a shoestring budget.
Enter the state’s transportation task force and the “Investing in Tomorrow’s Transportation Today” (IT3) initiative. IT3 is the state’s vision for better mobility in the future. But the realities of the statewide funding shortfall today dictate how far the plan can go. That’s why the focus of IT3 is unquestionably on getting the biggest bang for the buck.
A report issued in late-November provided a glimpse into the “return on investment” of different activities. What was found to move the needle the most on improving mobility? Getting cars off the roads and rethinking the daily commute.
Spending $220 million on demand management initiatives like telework, flexible work arrangements and other programs that make an immediate impact on reducing traffic is projected to yield $40 billion in reduced congestion costs over the next 30 years.
By comparison, spending $26 billion (that’s billion with a “b”) on new infrastructure is projected to yield the same $40 billion result.
Certainly the state needs to invest heavily in new transportation options as the population continues to surge. But the reality is that we cannot afford to wait years for new projects to come online. While the state sorts through funding options for transportation, the IT3 task force’s findings confirm that we must concentrate on making the best use of the resources we have.
So, where do you think the smart money is? More commuter rail? Expanded telework options for employees? More carpooling incentives? Post your ideas and be part of the conversation.
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