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Economic Benefits of Using FAST

Economic Benefits:

  • $10 million invested in transit capital yields $30 million in business sales, and the same investment in transit operations generates $32 million.
    Source: American Public Transportation Association
    The Benefits of Public Transportation: Wherever Life Takes You
  • In project after project, a capital investment in public transit sparks a chain same amount invested in transit operations generates 60,000 jobs. The reaction in business activity that far exceeds the initial investment. The dollars that flow to hundreds of industries, from specialized rail or bus construction firms to maintenance and software suppliers. These jobs create more jobs in the community through the multiplier effect. Every $1 billion invested in public transit capital projects generates 30,000 jobs, and the return on investment could be as high as 9 to 1.
    Source: The Economic Importance of Public Transit: National Business Coalition for Rapid Transit
  • Businesses in transit-intensive areas save on land required for parking and its associated costs. Where public transportation is a factor, the number of parking spaces required for offices and retail business can be reduced by 30% and 50%, respectively saving between $2,000 and $20,000 per parking space.
    Source: American Public Transportation Association
    The Benefits of Public Transportation: Wherever Life Takes You
  • For every dollar invested in transit, America receives nearly two dollars in economic benefits. In 2005, federal, state and local governments spent $30.9 billion to provide transit services (not including fares.) These investments yielded at least $60 billion per year in benefits... In other words, investment in transit more than pays for itself.
    Source: A Better Way to Go
    Meeting America's 21 Century Transportation Challenges with Modern Public Transit - U.S. PIRG Education Fund, March 2008
  • Capital investment historically creates jobs in any industry, but it's even more pronounced in public transportation because of the vast number of businesses directly impacted. Movement of a company's number one assets, its employees, is as critical of an investment as dollars spent on marketing to your customers.
    Source: Mark Drennen
    President and CEO of greater New Orleans, Inc.
    From The Economic Importance of Public Transit
    (Presented by The National Business Coalition for Rapid Transit)
  • Public transportation enhances local rural economic growth in many ways. For example, it can increase the local customer base for a range of services, including shopping malls, medical facilities, and other transportation services. Residents interested in attending community colleges or other local educational facilities may gain access to such training opportunities with transit service. And, rural locations with amenities may gain potential tourists who otherwise would not have visited such communities without transit.
    Source: Public Transportation on the Move in Rural America
    Economic Research Service, U.S. Dept. of Agriculture ? July 2008
  • Growing regions must invest in the transportation infrastructure required to support their communities or they will not thrive. A well-planned and adequately supported transit system is essential before any region can truly be considered a modern, efficient economic center.
    Source: Jerry Roper
    President and CEO
    Chicagoland Chamber of Commerce and Executive Director the National Business Coalition for Rapid Transit
  • Investing in transit allows our entire transportation system, including streets and highways, to be more efficient. We become more mobile. We travel faster. Businesses want to locate and grow here. We create jobs. We save time and expand our economy, and that means more money for all of us.
    Source: Time is Money ? The Economic Benefits of Transit Investment