Measuring Economic Contribution of Freight Industry to the Maryland Economy

This research project has three main objectives:

  • identify and model key performance indicators (KPI) that measure the economic output of freight transported in Maryland:
    a) direct KPI: output ($), number of establishments, payroll ($), number of employees, earnings ($), output/employee, earnings/employee
    b) indirect KPI: total output ($), payroll ($), number of employees, earnings ($), output/ private sector employee, earnings/private sector employee
    c) other KPI: ratio of federal, state, and municipal taxes collected per total output ($), and other KPI as identified as important in this study
  •  create a freight economic output index (FECO index) that tracks the economic output over time of total output in Maryland
  • develop forecasting models, using X-12 Arima or other cyclical and seasonal time series, for the components of the FECO as well as FECO
  •  develop a technical guidebook

Start date: February 1, 2012
End date: February 1, 2013
Contract/Grant Number: SP209B4P
Total Dollars: 100,000
Source Organization: Maryland Department of Transportation

Index Terms: freight industry, freight forwarders, Maryland, economic performance, economic analysis, economic forecasting

Sponsoring Organization:
Maryland State Highway Administration
707 N. Calvert Street
Baltimore, MD 21202

Performing Organization:
Morgan State University
School of Engineering
Cold Spring Lane and Hillen Road
Baltimore, MD 21239

Principal Investigators:
Hyeon-Shic Shin
Phone: (443) 885-3348

Sanjay Bapna

Project Manager:
Matthew Garbark

Subjects: freight transportation, economics