There is a dire need for consistent investment in American infrastructure.
- Public transportation systems are in dire need of investment to support increased ridership.
- A study by the Economic Development Research Corporation projects that 480,000 new jobs representing $32 billion per year in income will be at risk due to congestion by 2040.
- After years of neglect, the infrastructure that American communities and businesses rely on to grow and prosper is crumbling. In giving America’s infrastructure a grade of D+, the American Society of Civil Engineers found that deteriorating public transportation infrastructure cost the U.S. economy $90 billion in 2010.
- Examples of public transportation investment powering economic and community growth:
- Boston’s Silver Line Bus Rapid Transit line has sparked more than $1.2 billion in construction including more than 2,500 new and refurbished housing units and more than 2 million square feet of office and retail space. The line has opened previously inaccessible areas to new development.
- Even before Salt Lake City’s S-Line began operating in the fall of 2013, the project had already jump-started roughly $400 million in economic development that’s completed or underway, including hundreds of new apartments.
- Investment in the Dallas Area Rapid Transit (DART) Rail capital projects between 2003 and 2013 has generated a return of $7.4 billion in regional economic activity, creating more than 54,000 jobs that paid more than $3.3 billion in wages, salaries and benefits. In addition, more than $5.3 billion in private-capital transit-oriented development projects have been built, are under construction, or are currently planned near light rail stations since the debut of DART Rail in 1996.
- A study of Minneapolis’ Hiawatha Light Rail corridor found that the line increased residential property values by $47 million.