The Regional Economic Model for Central Florida* shows that improvements in transportation and infrastructure will benefit Orange County residents. Two key factors are as follows:
⇒ Each household is expected to save 120-140 hours per year in travel time.
⇒ Each household is expected to have savings of $1,700-$2,000 in total direct out-of-pocket transportation expenses annually.
The REMI conservatively calculated a savings of $1,700-$2,000 per household in Orange County. The savings were calculated at a rate of $14/hour. So, if the time you spend in traffic each year is reduced, due to transportation improvements, you would realize the corresponding financial savings.
Example: 140 hours saved/year, translates to 2.7 hours/week. The calculation assumes a savings of $14/hour (considering cost of time, fuel, and maintenance). Therefore, $14 x 2.7 hours x 52 weeks/year = $1,965 in savings.
Added revenue would impact quality of life issues and overall affordability concerns. The proposed surtax is estimated to generate $600 million annually* that will go towards transportation and infrastructure improvements. This will alleviate transportation costs for every resident all across Orange County.