I-440 Greenway Benefit-Cost Analysis
Wilmot’s benefit-cost analysis for the I-440 Phase One TIGER Grant application identified over $300M in community benefits from a $40M investment in a greenway expansion.
In 2018, Metro Nashville’s Planning Department and Greenways for Nashville began expanding the existing greenway network along the I-440 corridor. The Greenway will stretch 7 miles long along I-440 upon completion. To help finance the construction, the Planning Department and Greenways applied for a USDOT TIGER Grant, now known as a BUILD Grant.
Wilmot completed the benefit-cost analysis (BCA) portion of the TIGER grant application. Using BCA methodology, Wilmot modeled the value of community benefits from the expansion. Wilmot evaluated several factors including:
Number of new users,
Reduced road congestion,
Improved health to users from activity,
Reduced absenteeism, and
The analysis revealed over $300M in benefits and a benefit-cost ratio of nearly 8:1. The analysis also received the TIGER grant’s highest score value in the review process.
Benefit-cost ratio of 8:1
$300M in benefits
Attained TIGER’s highest review score for economic analysis
Metro Planning Department
Metro Parks Department
Greenways for Nashville
Triple bottom line cost benefit analysis