Freight Advisory Committee Meeting No. 5: Freight and Economics

Welcome

BCD Regional Freight Mobility Plan Freight and Economics Freight Advisory Committee Meeting #5 October 8, 2020

Introduction to Speakers Eric McClellan Lead Economist Columbia, SC

Evan Bigos Senior Economist Orlando, FL

Analysis Elements Freight Network – how is it doing?

Economics – Jobs, income, GRP, etc.

Prioritization Measures

Freight Movement– what, where, how?

Land Use – how and what is changing?

• existing population, employment, etc.

• context for economic impacts

• Freight Economic Impacts • freight service providers • freight users: shipper/receivers

filter validation

• Regional Socioeconomics

summary data

• TRANSEARCH data (some USACE) • inbound, outbound, intra-regional (not through) • dollar value focused

application

• Regional Freight Commodities

database

Today’s Topics

econ. impacts

prioritization

mapping

Polling Question • Rank freight directions by economic significance

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Regional Commodities Source: IHS Markit’s TRANSEARCH 2016 and USACE

Directional Importance ACOG

BCDCOG

TRANSEARCH/USACE Summary Direction Tons Outbound Inbound Intra-Regional Through Total Value, in millions Outbound Inbound Intra-Regional Through Total

Truck

Rail

Water

Other

Air

Total

15,013,564 13,413,669 8,510,723 52,135,754 89,073,711

4,432,478 11,144,727 780,056 7,550,479 23,907,740

7,809,379 14,835,998 370,126 na 23,015,503

1,036 19,198 na na 20,233

9,391 17,167 na na 26,559

27,265,848 39,430,759 9,660,905 59,686,233 136,043,746

$46,880 $28,482 $19,640 $116,713 $211,716

$10,086 $13,782 $443 $12,693 $37,005

$28 $154 $89 na $270

$10 $194 na na $204

$532 $1,498 na na $2,030

$57,536 $44,110 $20,172 $129,406 $251,224

Regional Commodities (by tons)

economically relevant

Regional Commodities (by value)

in top 10 by tons

Polling Question • What industry sector employs most in the region?

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Stop and Pause Please unmute or type your questions in the questions box for open discussion

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Regional Socioeconomics Source: IMPLAN 2018

BCDCOG Socioeconomics (2018) • Population: 787,600 • Employment: 489,100 • Value Added (GRP): $44.2b • Output: $83.4b • 1/6 to 1/5 of SC

BCDCOG Employment LQ Goods

Services

Industry BCDCOG 11 Ag/Forestry 0.39 21 Mining 1.40 22 Utilities 0.73 23 Construction 1.11 31-33 Manufacturing 0.62 42 Wholesale Trade 0.73 44-45 Retail Trade 0.96 48-49 Transp.

1.24 51 Information 1.31 52 Finance/Insurance 0.87 53 Real Estate/Rental 1.35 54 Prof. Svcs 1.37 55 Management 0.85 56 Admini./Waste 0.98 61 Educational Svcs 1.02 62 Health/Social Svcs 0.97 71 Arts/Entertain/Rec. 1.24 72 Accom./Food Svcs 1.06 81 Other Services 0.82 92 Government 1.08

BCDCOG Industry Composition

jobs

income

GRP

output

Freight Economic Impacts *Draft Estimates

Freight Economic Impact Process • Bridge TRANSEARCH w/ IMPLAN • IMPLAN identifies commodity-to-industry structure • TRANSEARCH provides directional freight values • Adjust for • • • •

through (and misattributed outbound/inbound) self-supplied intra-industry production economically irrelevant commodities other anomalies

• Estimate Impacts via IMPLAN • Activities • freight users (shippers/receivers) • freight service providers

• Type – direct, indirect, and induced • Measures – employment, income, VA, and output

Freight Economic Impact Summary Employment

Impact Type Direct Indirect Induced Total % of Region BCDCOG Direct % Indirect % Induced % Total %

Labor Income*

0% Value Added*

Output* Employment

96,551 42,865 39,836 179,251

$5,375 $2,257 $1,853 $9,485

$9,084 $3,789 $3,144 $16,018

$23,603 $7,189 $5,492 Labor Income $36,284

489,149 19.7% 8.8% 8.1% 36.6%

$27,288 19.7% 8.3% 6.8% 34.8%

$44,246 20.5% 8.6% 7.1% 36.2%

$83,395 28.3% 8.6% 6.6% 43.5%

*in millions of 2018$

Value Added Output

10%

20%

30%

40%

50% Direct Indirect Induced

Industry Sector Employment Impacts

Conclusions • Regional Impacts • Relevant • Direction – inbound, outbound, intra-regional • Commodities – chemicals, food, trans. equipment, etc.

• Irrelevant • Direction – through (incl. repositioned in/outbound) • Commodities – secondary traffic, most waste, empty containers

• Freight Economic Impacts • ~30-40% of BCD Economy, mostly goods-related • Rest of State and southeast depends on BCD infrastructure

Polling Question • How will COVID-19 change freight?

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Questions/Comments?

Next Steps STEERING COMMITTEE MEETING DATES

STEERING COMMITTEE MEETING TOPIC

LUNCH & LEARN WEBINAR TOPICS

June 4

Introduction to Freight Planning

N/A

July 16

Best Practices & Network Assessment

August 13

Land Use Analysis

Truck Parking & Automation

September 10

Goals, Objectives, & Performance Measures

Freight Data Analysis

October 8

Economic Impact Analysis

N/A

November 12

Draft Plan Recommendations

TBD

Smart Cities & Railroad Technology

December/ January Final Plan 25

Thank You Stay Connected!

Contact:

bcdcog.com/freight Sarah Cox, Planner BCD Council of Governments Project Manager Charleston, SC sarahc@bcdcog.com

@BCDCoG @BCDCog 26