Economic Development Benefit/Cost Transit Slides

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Economic DevelopmentBenefit/Cost Transit Slides
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Transit Capital Investment Creates Jobs

• Every 10 million 314 jobs 30 million gain
  in sales for businesses

Source APTA 2001 and Cambridge Systematics
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We Estimate the FollowingNet Economic
BenefitsIncludes 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. Delete
this box to maintain slide formatting.
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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

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Transit Provides Accessto 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

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Impacts on Land Value

• When transit improves the accessibility of
  locations, property values increase

For each 100 meters closer to station
Per square foot,
near stations
Source Parsons Brinckerhoff (various sources)
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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. Delete this box to maintain slide
formatting.
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Transit Supports Downtown Jobsand 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

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Transit Can Revitalize Downtownsand 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

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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
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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
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Transit CreatesEmployment Opportunities

• Integrated land use and transportation at
  stations facilitates entrepreneurship and
  supports job creation

• Cafes, food vending, bakeries
• Day care
• Florists
• Dry cleaning
• Photocopy services

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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.
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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

• 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)

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Our Project Will Contribute to Economic
Development in the Following Ways

• _
• _
• _
• _
• _

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.