The Economic Benefits of a Comprehensive Transportation System

July 16, 2013

Transportation For Michigan (trans4m) recently spoke out about The Economic Benefits of a Comprehensive Transportation System:

A comprehensive transportation system is vital to Move Michigan into the 21st century and give the state the competitive advantage it needs to thrive. Accessible and efficient public transit, non-motorized paths and well maintained roads and bridges create a solid foundation for a high quality of life for everyone who lives, works or plays in the region. Multi-modal transport systems bring well known benefits such as economic growth, improved health and environmental sustainability.

Infographic

Transportation and Economic Development: A Piktochart created for trans4m.org

In the midst of advocating for these benefits one intrinsic benefit is often forgotten, especially in Michigan: economic development. Robust transportation options — namely fixed, mass transit such as passenger and light rail, bus rapid transit and safe pedestrian and bike paths — provide significant economic benefit to a region and state…

Increasingly, many young people want to live in dynamic cities that are modern and accommodating to all, including those without cars.  In turn, smart and powerful companies are reacting to this trend by locating and relocating to cities with successful transportation systems…

Akin to job growth, property values, and rent rates are positively correlated to public transportation and walkability.  A study recently released by  by the American Public Transportation Association (APTA) and the National Association of Realtors® (NAR) revealed that property values performed 42 percent better on average if they are located near public transportation with high-frequency service…

Many companies on Fortune’s 100 Best Companies to Work For list… are headquartered in cities with great transport systems. They often develop their office and commercial buildings with smart transport, walkability and placemaking in mind.  While many of these companies locate in major metropolitan cities, many of them locate in mid-size cities like Mountain View, CA and Rochester, NY.  Small and mid-sized cities, comparable to Ann Arbor, Lansing, Grand Rapids, Kalamazoo or Traverse City, are often overlooked in the discussion of comprehensive transportation systems where they have great potential…

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