In 1956 the National Interstate and Defense Highway System was approved by Congress. It was immediately apparent that the diversion of traffic to such a system could result in immediate and lasting significant changes in the traffic flow patterns on the older highways, and this probably would have an immediate effect upon the businesses located along these older highways. In the bill authorizing the Interstate Highway System provision was made for studies of the economic effects of the new system upon local economies. The study reported herein is a part of a long-range investigation of the various aspects of economic impact of new highway facilities on land values, land uses, businesses, and income-producing assets. The work was initially assigned to the Bureau of Business Research, University of Kentucky, under a five-year contractual agreement initiated in 1958.

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No. 244

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