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TransAction 2040 was adopted in November 2012 as an update of TransAction 2030. The TransAction 2040 vision followed the same goals that were developed for its predecessor plans and provided for an improved multimodal transportation system that facilitates achievement of specific regional goals.
TransAction 2040 extended the planning horizon to 2040, consistent with the National Capital Region Transportation Planning Board (TPB) Financially Constrained Long Range Plan (CLRP). TransAction 2040 also included new projects and introduced a revised evaluation and prioritization process, along with a benefit/cost (b/c) analysis. Like the plan that preceded it, TransAction 2040 was intended to provide a guide for funding future transportation projects in Northern Virginia.
The projects prioritized as part of TransAction 2040 had a capital cost estimate of $23.2 billion. In year 2040, the annual operating cost of these projects was estimated to be $330 million. Based on the potential implementation dates of the various projects, a sum of expenditures figure of $4.3 billion in operating costs was developed. The recommended improvements in the CLRP and the TransAction 2040 Plan represent nearly $42 billion in transportation infrastructure and service expansion and $44 billion in highway and transit operations and preservation from 2011 to 2040. (All figures are in 2011 dollars.)
TransAction2040-Transportation for Today and Tomorrow