Economic Impact of Smart City Investment: Evidence from the Smart Columbus Projects

Abstract

We introduced a research framework for the economic impact assessment of smart city investment using a computable general equilibrium model. Smart Columbus, the first smart city initiative funded by the U.S. federal government to improve urban mobility in central Ohio, was adopted as a case study. The analysis shows that smart city investment has varying effects on the local economy during the construction and operational phases. In addition, the results of distributional impacts on household income suggest that social equity should be given more attention in future planning and decision-making on smart city development, both in Columbus and beyond.