The Model Inventory of Roadway Elements (MIRE) is a listing of roadway features and traffic volume elements to help agencies move toward data-driven decision-making in safety management. The Fundamental Data Elements (FDE) is a subset of MIRE elements. The FDE is a set of roadway and traffic data elements that States should collect to support activities conducted under their Highway Safety Improvement Programs. This report conducted an economic analysis of the cost to States in developing a statewide linear referencing system and collecting the MIRE Fundamental Data Elements on all public roadways. The cost analysis was based on state practices and vendor estimates. The report also estimated the reduction in fatalities and injuries needed to exceed a 1:1 benefit-cost ratio and a 2:1 benefit-cost ratio. Note that the benefit estimation is limited to the estimation of the reduction in fatalities and injuries needed to achieve certain goals; there is no estimate of the potential reduction in fatalities and injuries as a result of the data improvements.