Transcript Overview

Economic Development
Benefit/Cost Transit Slides
Transit Capital Investment Creates Jobs
 Every $10 million = 314 jobs + $30
million gain in sales for businesses
Source: APTA 2001 and Cambridge Systematics
We Estimate the Following
Net Economic Benefits
Includes Multiplier Effects
 Increased economic output of __
 Increased labor income of __
 Increased employment of __
These are net benefits that accrue to our
region from funding provided by others
(e.g. the state, federal government).
NOTES TO USER:
Potential Source: Construction and Operations Funding Impacts Worksheet.
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Traffic Congestion and Long Commutes
Negatively Impact Employment
Reductions in worker productivity, recruitment and
retention result from:
 Aggravation and stress
 Inability to work traditional
schedule
 Tardiness and work rescheduling
 Increased pressure to meet
schedules
Transit Provides Access
to Employment
“Easy access to the Metro Green Line (Los
Angeles, CA) gives us an edge in that
competition. Since the Green Line started into
service, the sales in our corporate transit pass
program have skyrocketed, making our work
force more productive and helping Hughes
achieve its clean air goals as well.”
James B. Ardis
Director of Human Resources
Hughes Aircraft Company
Source: Dollars and Sense – The Economic Case for Public Transportation in America,
Donald Camph
Impacts on Land Value
 When transit improves the accessibility of
locations, property values increase
Residential *
Bay Area
$200
Los Angeles
$31
San Diego
$272
San Jose
$197
Sacramento
Commercial **
No effect
Santa Clara
* For each 100 meters closer to station
Source: Parsons Brinckerhoff (various sources)
$4.87
** Per square foot, near stations
Our Project Is Anticipated to Generate
Increases in Property Values
 Office rents: $__
 Apartment housing
rents: $__
 Single family home
prices: $__
NOTES TO USER:
Potential Source: Property Value Impacts Worksheet. Insert picture of your community.
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Transit Supports Downtown Jobs
and a Healthy Economy
In downtown Portland, OR:
 Jobs grew from 56,000
to 109,000 between the
mid 1970s and 1998
 1/3 of work trips to the
downtown are on transit
Transit Can Revitalize Downtowns
and Urban Neighborhoods
Places incorporating transit into
redevelopment strategies:
 Portland, OR – 1972 Downtown
Plan
 Sacramento, CA – K Street Mall
 San Francisco, CA – Embarcadero
 Washington, D.C. – MCI Arena area
 Los Angeles (CA) Neighborhood
Initiative – Multiple Neighborhoods
Transit-Oriented Development (TOD)
Promotes “24-hour” Activity
Current and future investors
are advised to seek 24-hour
places that have strong
residential fundamentals and
multifaceted environments,
including mass transportation
alternatives to the car.
Source: Emerging Trends in Real Estate 1999 Report
Integrated Transit and Land Use
Attracts Workers
Information industry workers are attracted to places with
walkable downtowns, restaurants, offices and housing.
These places promote interaction, which is key to
companies that thrive on:
 Accessibility
 Networking
 Creativity
Source: Collaborative Economics
Transit Creates
Employment Opportunities
Integrated land use and transportation at
stations facilitates entrepreneurship and
supports job creation:
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Cafes, food vending, bakeries
Day care
Florists
Dry cleaning
Photocopy services
Transit Provides Access To More Jobs
 We estimate that our
project will give __
people access to new
job opportunities
located further from
their homes
Note to user: Include photo of local Welfare to Work or other program shuttle.
Transit Can Focus Regional
Economic Investments
Scarce funds can be used efficiently and effectively
(e.g., infrastructure, affordable housing). Places
emphasizing transit in their regional development
strategies include:
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Washington D.C. (Corridor and Wedges Plan)
Charlotte, North Carolina (2025 Plan)
Portland, Oregon (Metro 2040 Plan)
Seattle, Washington (Vision 2020 Plan)
State of Maryland (Smart Growth Initiative)
San Diego, California (SANDAG Regional Growth
Management Strategy)
Our Project Will Contribute to Economic
Development in the Following Ways:
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_
_
_
_
_
Note to user: Use this and other slides to describe how your transit project may be used to
strengthen the downtown, revitalize neighborhoods, provide reliable travel times, etc.