Community Foundation of Acadiana (CFA) has released an economic impact analysis it commissioned that assesses the benefits of completing the I-49 Lafayette Connector and the extension of I-49 South from Lafayette to New Orleans. CFA contracted with Regional Economic Models, Inc. (REMI) and CDM Smith to perform the study. The study finds that completing the I-49 Lafayette Connector – a 5.5-mile extension of I-49 from I-10 to just south of the Lafayette Regional Airport – demonstrates robust short-term and long-term impacts on jobs and economic growth. Completing both the Lafayette Connector and other segments of I-49 South – to connect with I-310 southwest of New Orleans – would yield even stronger impacts and growth.
The study evaluates impacts from both construction expenditures and travel efficiency benefits using REMI’s TranSight model, a nationally recognized tool for evaluating the economic effects of changes to transportation systems. It looks at indicators including but not limited to population, employment, gross regional product, disposable personal income, output (in terms of sales and supply), travel time savings, and reductions in emissions.
Key findings include:
- By 2044, completing the Lafayette Connector and other segments of I-49 South will create more than 6,000 jobs statewide
- Over a 21-year period following the construction of the 5.5-mile Lafayette Connector, the additional GDP contribution to the state of Louisiana is estimated to be more than $2.3 billion
- Over the same period, if both the Lafayette Connector and other segments of I-49 South arecompleted, the additional GDP contribution to Louisiana is estimated to be more than $9.7 billion