Highway 3 Corridor Economic Impact Study (2012)

/Highway 3 Corridor Economic Impact Study (2012)
Highway 3 Corridor Economic Impact Study (2012) 2018-06-29T10:32:13+00:00

This study was led by DTCI in association with Wave Point Consulting Ltd and S5 Services for the BC Ministry of Transportation and Infrastructure. The study scope included assessment of current and future economic opportunities within the economic catchment areas of the Highway 3, 3A and 3B corridors, and assessment of the economic impacts of a proposed package of highway corridor investments based on anticipated travel timesaving estimates developed by the Ministry. A detailed profile of economic activity along the Highway 3 Corridor was developed based on BC Stats Community Profiles, data from other available sources, and information obtained from stakeholder interviews. Employment data from BC Stats was supplemented by a detailed analysis of Business Points data on employment by firm for 2008 and 2010, which enabled a more comprehensive assessment of employment patterns through inclusion of firms located outside of the communities profiled by BC Stats. Economic impacts of specific projects were estimated in two stages. The first was a detailed assessment of direct user benefits using a methodology consistent with BC MOTI MicroBENCOST methodology and parameters for project evaluation. The second was an assessment of the potential for additional economic impacts due to increases in traffic induced by travel time improvements resulting from the projects.