An analysis of the Georgia Department of Transportation’s first public-private partnership outlines significant economic development benefits for the Atlanta metropolitan area and the state as a whole.
The report cost $22,834 and was commissioned by GDOT. It was prepared by the Fiscal Research Center, part of the Andrew Young School of Policy Studies at Georgia State University.
The report concluded that expenditures tied to construction of the Northwest Corridor will cycle through the economy several times, resulting in an economic output of more than $1.5 billion to the state, with more than $1.4 billion concentrated in the Atlanta metro area. The project will create an estimated 9,705 jobs.
“While we know there will be tremendous long-term benefits to the state’s transportation infrastructure from the Northwest Corridor project, this report helps us better understand the near-term economic benefits,” said GDOT commissioner Vance Smith. “The findings are impressive and further prove the value that public-private partnerships will bring beyond providing a means of delivering major projects that we would otherwise be unable to deliver.”
Three groups earlier this month submitted qualifications to GDOT for consideration as a partner on the more than $2 billion project.
The Georgia State University report is available at www.georgiaP3.com.