Public Transit Accelerates Economic Growth
A study conducted for the American Public Transportation Association (APTA) by the Economic Development Research Group, Inc. reports that investment in public transportation offers an economic return of $4 for every $1 invested. The report was discussed recently at an event on Capitol Hill in conjunction with APTA, the National League of Cities, the U.S. Travel Association and the Environment and Energy Study Institute. The event was part of the Infrastructure Wek 2014.
Public transportation investment provides increased productivity in two areas, according to the study. First, the savings are achieved directly in households from reduced congestion and less reliance on automobile use. This changes purchasing power, by at least $18.4 billion per year. Second, savings to businesses – by improving employers’ access to the labor market with more efficient commutes for its current and potential employees, along with reducing congestion costs and logistics – results in contributing an additional 10.1 billion to the U.S. economy.
Read the full APTA 5/15/14 article here.