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ECONOMIC STUDY PROVES ADAGE "TIME IS MONEY"
Study shows Toll Roads save commuters money as well as time
July, 2006
A recent study by two top economists determined that the Toll Roads don't just save
commuters time. they save them money too.
Saving money on gas
In fact, based solely on fuel savings by traveling at the speed limit rather than the stopand-
go freeway congestion, Toll Road users save a combined $7 million per year in fuel
efficiency alone. For many commuters, the amount saved in fuel costs can make up for
the toll that they pay to use the road.
Time is money for most OC residents
Dr. Tapan Munroe, Ph.D. and Dr. Ronald Schmidt, Ph.D. of LeCG, a firm that
specializes in analyzing the fiscal impacts of infrastructure projects, studied the economic
effects of the Toll Roads and determined that commuters saved a combined six million
hours every year, which translates into approximately $182 million in enhanced
productivity for the Orange County economy.
How much time would be lost to traffic congestion without the Toll Roads? It would be
the equivalent of nearly 3,000 workers condemned to sit in traffic for an entire year.
"The Toll Roads are important to keeping this region accessible and attractive to
businesses and major employers," said Lucy Dunn, CEO of the Orange County Business
Council. "The timely movement of goods and services as well as getting our workers and
residents to and from their places of employment is critical to maintaining Orange
County's economic prosperity and high quality of life. This is what keeps our top
businesses and jobs in Orange County."
Freeway commuters save too!
Those who choose to remain on the freeways find their drive less congested thanks to the
Toll Roads. There are 26% fewer drivers on the I-405 Freeway thanks to the San Joaquin
(73) Toll Road and traffic on the I-5 would be 50% higher if the Foothill (241) Toll Road
did not exist.
"Our analysis found that without the Toll Roads, the surrounding city streets and
freeways would have higher traffic volume levels, which would translate into decreased
speeds and increased travel time," said Munroe. "In practical terms, traffic along the I-405 and I-5 would come to a virtual halt were the Toll Roads not there to provide
commuters with an alternative."
Foothill-South Will Complete the Toll Road System
Foothill-South will connect the 241 from where it ends at Oso Parkway in Rancho Santa
Margarita to the I-5 Freeway south of San Clemente. This is 16-mile roadway is the final
segment that would complete the Orange County Toll Road system.
Without Foothill-South, by 2025 it would take an hour on the I-5 to travel from Oso
Parkway to the Orange/San Diego county line. With Foothill-South, the travel time on
the freeway would be reduced to 25 minutes and commuters could make the trip on the
Toll Road in just 16 minutes.
FAST FACTS about the Toll Roads
The Toll Roads save Orange County motorists:
- 24,000 hours each weekday during peak travel times
- 6 million hours of driving time per year
- 2 million gallons of gas per year
- 25 minutes on the I-405 from the SR-55 to the I-5
- 24 minutes on the I-5 from Lake Forest to Mission Viejo
- 21 minutes on the I-5 through Irvine
How much is your time worth?
link to pdf file
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