Friday, March 11, 2016

Investment in Public Transit will Deliver Double the Return as it Stimulates Business Sales in Emerging Tech Sector

masstransitmag : If one were to view a community as a business, a new study shows that planned public transportation investments will yield a 2 to 1 return while helping to generate income for local businesses, its workers and neighborhoods. In fact, this investment will yield more than $174 billion in business sales in the three cites examined in a new study commissioned by the American Public Transportation Association called Public Transportation's Role in the Knowledge Economy. The study authors examined the emerging tech sectors in Silicon Beach, CA; Austin, TX; and Durham, NC and looked at public transportation's role in enhancing access to employees and promoting entrepreneurial infrastructure.

The authors noted in this research that communities across America are creating "Innovation Districts" – which are areas that include business incubators, anchor institutions and startups. The study emphasizes that these districts are becoming an important engine of U.S. economic growth. These Innovative Districts require both robust business and transportation infrastructure to be sustained over the long-term.

"Public transportation is the catalyst that attracts knowledge workers who show a preference to be connected with multiple transportation options to high-growth business centers," said APTA Chair Valarie J. McCall. "It allows these Innovation Districts to create dense business infrastructure that preserves key community benefits while mitigating congestion issues and providing businesses greater access to labor.""