Chapter 2 • Historical Trends
Legacy system revenue grew from about 277 million in FY 2009 to 595 million in FY 2015. Total transactions increased by 2.8 percent in FY 2015 reaching FY 115.7 million, mostly due to the high growth on Hatem Bridge and Baltimore Harbor Tunnel, where transactions increased by 6.0 percent and 8.9 percent respectively, compared to FY 2014. The revenue decreased in FY 2016 by 2.2 percent due to the toll decrease implemented on July 1, 2015. The traffic increases between FY 2015 and FY 2017 on the system were the result of strong economic performance and the FY 2016 toll decrease. This upward trend came to an end in FY 2018, when the system transactions decreased by 0.3 percent. In FY 2019, the transactions decreased further by 2.0 percent, driven especially by the 25.6 drop in transactions on the Baltimore Harbor Tunnel due to construction. Revenue followed a similar trend decreasing by 2.1 percent and 0.7 percent in FY 2018 and FY 2019 respectively. Overall, between FY 2009 and FY 2019, the total legacy system transactions increased by 0.2 percent per annum and revenue increased by 7.8 per annum. Beginning in March 2020, the COVID-19 pandemic caused significant reductions in traffic on the MDTA system. This caused the FY 2020 Legacy system transaction to decrease by 16.4 percent and revenue to decrease by 13.8 percent compared to FY 2019. In FY 2021, ongoing pandemic impacts, back office transition collection issues, and the conversion to cashless tolling have caused a further 24.9 percent decline in transactions over FY 2020. In FY 2022, transactions and revenue increased by 65.1 and 74.2 percent, respectively, over the prior year. This is due to ongoing COVID-19 recovery as well as collections on transactions from previous years due to the business rule changes. In FY 2023, the Legacy system transactions increased by 0.5 percent and revenue decreased by 2.7, a result of fewer transactions collected from prior years after termination of the customer assistance plan. FY 2024 declined by 3.7 and 4.7 percent for transactions and revenue, respectively, primarily due to the impact from the Key Bridge collapse and video revenue collections. The initial impacts of the Key Bridge collapse on the Harbor Crossings and the residual impacts after the reopening of the Port of Baltimore will be discussed in more detail in Chapter 4 and how the impacts were considered in the forecast. FY 2025 showed further declines year-over-year in collected toll revenue on nearly all Legacy facilities, excluding the Harbor Tunnel and Fort McHenry Tunnel which saw further increases due to a full year of the impact of traffic diversion from the collapsed Key Bridge. For the Intercounty Connector, tolling began on the second segment of the ICC from MD- 97/Georgia Avenue to I-95 in FY 2012, making FY 2013 the first full fiscal year of I-370 to I-95 operations on the ICC. Trips then increased by 19.1 percent in FY 2014. This was due primarily to facility “ramp-up,” when motorists adjust their travel patterns over time as they become aware of a new facility and the benefits that it offers over their current route of travel. This ramp-up period continued into FY 2015, with a 17.8 percent growth in trips and a 16.6 percent growth in toll revenue. FY 2015 growth also included the opening of the final segment of the ICC in November 2014; a 1.53-mile extension on the eastern end between I-95 and US 1. Trips in FY 2016 grew at a faster rate than FY 2015, which can be attributed in part to the toll reduction implemented on July 1, 2015. Toll revenue for FY 2016 was 5.9 percent higher than FY 2015, which reflects continued robust growth in trips offset in part by the negative revenue impact of the lower tolls. Trips growth for FY 2017 was strong at 8.9 percent. While FY 2018 and FY 2019 had trip growth around 5.5 percent. This strong growth is likely due to increasing regional population and employment as well as the ICC serving as a congestion relief route. As was seen with the Legacy facilities, due to the COVID-19 pandemic, there was a 9.2 decrease in trips and 16.1 percent decrease in revenue in FY 2020 compared to FY 2019. FY 2021 transactions and
2-8
Made with FlippingBook - professional solution for displaying marketing and sales documents online