Public transportation investment study highlights economic gains

Public transportation investment is the focus of a new independent economic study. It examines the American Public Transportation Association’s recommendations on public transportation funding.

As outlined in APTA’s Economic Impact of Public Transportation Investment, every $1 billion invested in that area generates $5 billion in long-term economic value.

What the public transportation investment study found?

The report, Economic Impact of Public Transportation Investment, was released this week. Also, it says that this funding supports tens of thousands of jobs nationwide.

According to the report, each $1 billion in transit spending leads to $1.4 billion in direct spending from construction, manufacturing and operations. In addition, it leads to $3.6 billion in long-term benefits. It also leads to the creation of 41,400 jobs and $3.1 billion in worker income. Meanwhile, it generates $251 million in federal, state, and local tax revenues.

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APTA funding recommendations for public transit and passenger rail

In February, the American Public Transportation Association called for $138 billion for public transit and $130 billion for passenger rail. It made that call in its recommendations for the new surface transportation authorization due from Congress this year. Separately, Railway Supply notes those recommendations.

The new report was prepared for APTA by consulting firm EBP. At the same time, it says that this funding would lead to an additional $140 billion in annual impacts for the U.S. economic.

Those impacts would come through job creation, increased tax revenue, improved access to jobs and healthcare, reduced congestion, and lower household transportation costs. Still, APTA Passenger Transport reports the same funding case.

“Public transportation is one of the smartest investments we can make in America’s economic future,” APTA CEO Paul P. Skoutelas said in a press release. “A $1 billion investment doesn’t just move people. It moves our entire economy forward, creating tens of thousands of jobs and unlocking billions in economic opportunity.”

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