The social and economic costs of congestion are estimated to be $115 billion nationwide costing the average Hampton Roads commuter approximately $694 in 2009, according to the Texas Transportation Institute’s 2010 Urban Mobility Report. Conventional efforts to alleviate congestion have been historically focused on expanding road capacity; however increasing congestion, decreasing state and federal transportation funding, and concerns over related issues such as air quality have experts worldwide advocating a change in the emphasis from increasing supply to reducing demand. Value Pricing is a less expensive and more immediate alternative to building more roads and highways, and is used as a Transportation Demand Management strategy to change or reduce travel demand particularly during peak commute hours, resulting in positive environmental and economic benefits.
A series of articles will be published in Crossings featuring Hampton Roads congestion trends and the concept and benefits of Value Pricing. Stay tuned!