Fixing Albuquerque's Traffic Bottleneck Will Yield $10.1B in Benefits
14 April 2000
Fixing Albuquerque's 'Big I' Traffic Bottleneck Will Yield $10.1 Billion in Economic Benefits, Study FindsAmerican Highway Users Alliance Documents Savings In Personal Time, Commercial Time, Fuel, Safety and Environment WASHINGTON, April 13 A report released today by the American Highway Users Alliance finds that Albuquerque-area residents and commuters will reap a total of $10.1 billion in economic benefits when needed improvements are made on I-40 at the I-25 Interchange, popularly known as the "Big I." Completing those improvements will result in individual savings for commuters using the bottleneck of $1,370 per year, according to the report. At a time when consumers are feeling the pinch of both the April 15 tax deadline and soaring gas prices, the data from the Highway Users' report shows the value of investing in improving America's traffic bottlenecks. The study details the substantial payoff to businesses and consumers from completing congestion-busting highway projects -- not only in gas savings, but in reduced environmental emissions, fewer traffic accidents, and time savings. The report, Saving Time, Saving Money: The Economics of Unclogging America's Worst Bottlenecks, assesses the economic impact of the impressive gains from bottleneck improvements identified in Unclogging America's Arteries: Prescriptions for Healthier Highways, a 1999 report performed by Cambridge Systematics for the Highway Users. According to the report, Saving Time, Saving Money "gives transportation officials, policy makers, and the general public a clearer understanding of the significant social and economic rewards to be reaped by improving traffic flow at key choke points." Unclogging America's Arteries identified and analyzed the 166 worst bottlenecks in America and included the "Big I" in its list of the top 17 bottlenecks in the country. Saving Time, Saving Money has taken those findings the next step and assigned monetary values to the time and fuel savings, safety improvements and environmental benefits. "This report shows that the Big I bottleneck isn't just a nuisance, but a major drain on Albuquerque's economy and the personal productivity of its citizens," said Bill Fay, President and CEO of the Highway Users. "With so much to be gained, we need to find a way to streamline the process so that everyone can begin reaping these benefits." The report points out that commuters and citizens nationwide would enjoy more than $336 billion in economic benefits from improvements to the nation's worst bottlenecks. The average commuter traveling through one of these 166 worst bottlenecks twice each workday could expect to save approximately $345 each year in time and fuel alone, if improvements were made. "We need to move quickly to fix these bottlenecks," Fay said. "The opportunity cost of delays -- in wasted time and fuel, highway accidents, and tailpipe emissions that could be avoided if improvements were completed now rather than later -- is staggering." The report estimates that a three-year delay in undertaking needed improvements to the 166 bottlenecks yields an opportunity cost of nearly $30 billion. "The good news, however," Fay continued, "is that there's hope for curing congestion on our highways -- which will save lives, improve the environment and create more free time to spend with our families and friends." Note: The attached fact sheet provides a breakdown of the savings from improvements to Albuquerque's traffic bottleneck. Details on the methodology for deriving the figures are included in the report, which is available at http://www.highways.org. ALBUQUERQUE FACT SHEET From "Saving Time, Saving Money" American Highway Users Alliance Study April 13, 2000 I-40 at the I-25 Interchange: The "Big I" at a glance So called because it resembles a giant eye when viewed from the air, the Big I is the junction of Interstate 25 and Interstate 40 near Albuquerque's downtown district. These two highways are vital to both the regional and local transportation systems. At the regional level, both I-25 and I-40 are primary routes used for interstate travel and goods shipment. I-25 serves as the primary highway connecting the international border area of the United States and Mexico with I-10, I-40, SR-70, and other regional highways used for travel and transporting goods within and across the southwestern United States. I-40 is a transcontinental highway extending from California to North Carolina and is heavily used for commercial goods transport and by interstate travelers. The current structures at the interchange are over 30 years old and approaching the point at which major reconstruction will be needed just to keep the current overpasses and ramps in a safe physical condition. It is estimated that one out of every three trips taken in the Albuquerque region passes through the Big I. Savings from Improvements Listed below are the total economic benefits to be derived from improvements to the "Big I." The economic values listed for the bottleneck are cumulative over the construction period and the 20-year useful life of the project. The "individual savings" identify the amount that a typical commuter traveling through the bottleneck twice each workday will save in time and fuel. Personal Time Savings: $5.7 billion Commercial Time Savings: $2.4 billion Fuel Savings: $870 million Safety Savings: $460 million Environmental Savings: $450 million (greenhouse gases) $220 million (air pollution) Total Savings: $10.1 billion Individual Savings: $1,370/year for a typical commuter