Transit and roadway infrastructure costs are often quantified in terms of their cost per mile. However, the capital cost of parking related infrastructure is rarely quantified in this manner. As a result, it is difficult to compare the magnitude of cost of this and its impact on the cost of doing business (provider of the space) and ultimately the consumer’s pocketbook (provider of the vehicle).
In an effort to further the discussion, the following infographic seeks to illustrate the capital cost of parking infrastructure on a per mile basis. The cost shown are exclusively related to the parking space and the vehicle and do not include the costs of the roadway and maintenance.
If these costs were reduced through less demand for the spaces by making transit, bicycling, walking, or car sharing easier alternatives, where would these extra dollars be spent or saved? What impacts would there be on the local economy?
It’s true. Transit does mean business, and today you’ll hear from local business leaders about the ample business opportunities that follow transit development. The American Public Transportation Association underwent an economic impact analysis of public transportation investment in 2009 and found that combined capital investment and transit operational spending supports 36,000 jobs per year per billion dollars of annual investment. These 36,000 jobs also corresponds to $1.8 B in GDP which is made up of workers income and corporate income. Right now Congress is still debating the re-authorization of the federal transportation bill in the range of $400-500 Billion for all types of transportation (roads, water, air, rail). Jobs! Jobs! Jobs!!!!
However, this is just covering the short-term impacts, but what about the long-term impacts? The same study by APTA also found that if investment in public transportation was maintained over the long haul, another $1.7B in GDP would come from cost-savings (fuel, time-savings, productivity, congestion reduction, emissions, etc) and thus drive up the overall impact to $3.5B per $1B of annual investment in public transportation. Based on these numbers, a $140M project could support approximately 5,000 jobs per year of investment which is not a number to downplay, but it’s just a shot in the arm because it’s primarily driven by the capital investment on the front end. If we continue to focus on public transportation over the long-haul through the Nashville MPO’s Long Range Transportation Plan, we could double this number and maintain it.
If you haven’t registered yet, it’s okay because we moved the event to the AT&T Auditorium (333 Commerce St.) which has more seating capacity.
This is a brown-bag lunch featuring a discussion of the opportunities and benefits transit brings to your business and Nashville’s economic development, including Nashville’s future East-West Connector.
Agenda:
Opening–Mayor Karl Dean
Panelists—Paul Ballard, MTA; Terry Clements, Nashville Convention and Visitors Bureau; Bert Matthews, Matthews Company, Colliers International, Nashville Area Chamber of Commerce; and Tom Turner, Nashville Downtown Partnership
Moderator—Ed Cole, Transit Alliance of Middle Tennessee
This event will be Wednesday, April 18 from 11 a.m. to 12:30 p.m.
Do you have lunch plans yet? Do your lunch plans include dessert courtesy of Dozen Bakery? I bet it doesn’t! So throw those leftovers in the fridge and hop aboard the Music City Circuit Blue Line and get some good food at the Market.
The Blue Line comes up Broadway and then cuts through downtown on 5th Avenue (map) and will have you to the market’s edge in about 5 minutes. See you at lunch and save room for dessert at our booth! Yum!
So how was the bus ride this morning? Wasn’t it nice not having to stress about that terrible driver in front of you needlessly hitting on his/her brake? Did you get through a few emails, drink a coffee… or hit the snooze button in your head and close your eyes for a little longer as you glided to work in the comfort of a MTA bus?
Better yet…did you get lucky and ride the Mayor on Board Bus (35x) with Mayor Karl Dean this morning? If you didn’t know, our mayor is an avid public transportation user and supporter, and once a month he rides a different route to get a better feel of the system and have the opportunity to talk with riders. Since today was the kickoff for Transit Week, Mayor Dean took it one step further and read off a proclamation (TNN Proclamation) officially kicking off Transit Week 2012! Check it out.
Don’t forget to share those experiences on our Facebook Page all week. We’ll be checking.
Due to overwhelming support for the Transit Means Business event—a part of the fourth annual Transit Week hosted by Transit Now Nashville—it has been moved from its original location at the Civic Design Center to the AT&T Auditorium next the AT&T Batman Tower!!
The need to select a new location to meet growing attendance is an exciting problem to have, and a testament to how eager people are to engage in the discussion of the value transit can bring to economic development in Nashville.
This is a brown-bag lunch featuring a discussion of the opportunities and benefits transit brings to your business and Nashville’s economic development, including Nashville’s future East-West Connector.
Agenda:
Opening–Mayor Karl Dean
Panelists—Paul Ballard, MTA; Terry Clements, Nashville Convention and Visitors Bureau; Bert Matthews, Matthews Company, Colliers International, Nashville Area Chamber of Commerce; and Tom Turner, Nashville Downtown Partnership
Moderator—Ed Cole, Transit Alliance of Middle Tennessee
This event will be Wednesday, April 18 from 11 a.m. to 12:30 p.m.
Don’t forget… this is a FREE event, but seats are limited so RSVP immediately. While attendees are encouraged to bring a brown- bag lunch, drinks will be provided. To RSVP, visit www.transitnownashville.org.
