Presentation, June 23, 2016 Topics 1. Overview of Sources of Impact - - PowerPoint PPT Presentation
Chandler Duncan Economic Development Research Group, Inc. Presentation, June 23, 2016 Topics 1. Overview of Sources of Impact 2. Describing the Transit Market 3. The Efficiency Impact of Transit 4. Strategic Issues 5. Potential Investment
Chandler Duncan Economic Development Research Group, Inc.
Presentation, June 23, 2016
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Outlays Made by Transit Provider: Money spent operating
Markets Supported by Transit Use: Goods and services made
Relative Efficiency of Transit over Other Modes: The impact
reliable than competing modes.
Transit as an Asset for Regional Development: Transit as a
resource for attracting and retaining businesses and workers, and making the business environment attractive.
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John & Jane own one car, they cannot both share the car to
commute to their ideal jobs.
Transit enables Jane to drive, and John takes the bus to a job
where he enables his employer to make and use $150,000 worth of additional product each year. After paying its suppliers, the firm retains $75,000 in earnings, of which it pays the smith family $40,000 in wages.
Business Output = The $150,000 worth of products Value Added/GDP = The $75,000 the firm retains after cost
Income = The $40,000 in wages that John earns Employment = The one job that John works
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Type of Outlay Employment Labor Income Value Added/GDP Business Output Operating 1,809 $89 Million $59.6 Million $155.5 Million Capital 12 $665 Thousand $978 Thousand $ 2 Million Total 1,821 $89.7 Million $69.6 Million $157.5 Million
Annual Operating Expenses: $100.4 million in 2015 supported over $150 million in Output (Sales) and 1,800 jobs. Recent Capital Investments: $7.8 million annually (FY13-15) supporting an average of $2.0 million in regional output and 12 jobs.
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Type of Outlay Employment Labor Income Value Added/GDP Business Output Labor Market 20,351 $548.1 Million $896.2 Million $1.5 Billion Consumer Market 1,197 $71.6 Million $95.6 Million $ 149.8 Million
Workers commuting to jobs using transit in Hampton Roads support $1.5 billion in regional output and a total of 20,351 jobs including multiplier effects. Consumers using transit to access shopping, recreation, eating out, and access to health services supports $93 million of spending, resulting in a total of $149.9 million in
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In addition to saving vehicle mileage, transit saves its users significant time spent
foregone activities. Savings Type Value ($M) Vehicle Operating Costs $262.56 Time Savings $743.81 Safety & Environmental $175.14 Total $1,181.51 Employment Labor Income ($M) Value Added ($M) Output ($M) 2015 125 $7 $17 $21 2015- 2040 123 average annual $203 cumulative $460 cumulative $577 cumulative
Placemaking: Transit plays a significant role in attracting
Center will require higher density transit to realize similar patterns.
Call Center Industry: Rapidly developing industry in Hampton
Roads Economy is particularly Transit Dependent. Faneuil and IBEX report much higher transit use than regional trends, with up to one third of employees either using or wanting to use transit.
Shipyards: Core basic industry to Hampton Roads with
significant current and projected parking and plant expenses saved due to transit availability.
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Health Care: 10% of regional workforce is employed in health
related fields. While transit use is representative of the overall transit market, some essential occupations of health care establishment are highly transit dependent to ensure food service, nursing and facility maintenance.
Higher Education: Like health care, higher education
College have student populations highly dependent on the GoPass program (1,200 GoPass 365 sales in 2016 as well as 1,500 among other educational institutions).
Hospitality & Tourism: Tourist establishments depend on
transit workers for essential functions.
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LRT – Newtown Road to Town Center LRT – Newtown Road to Oceanfront (via Laskin)
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LRT – Naval Station Norfolk
Based on Naval Station Norfolk Transit Extension Study Extends light rail service around the Western Alignment and Eastern B connecting Ghent neighborhood, ODU, and NSN along Hampton Boulevard on the west side. Travels along Military Highway and W. Little Creek Road on the east side.
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BRT – Peninsula
Envisions significantly expanded bus and high capacity transit (BRT) services on the Peninsula.
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Type of Outlay Employment (Jobs) GDP Impact ($ Millions) Business Output LRT – Town Center 126-135 $436-$465 $1,156-$1,208 LRT Oceanfront 312-327 $1,167-$1,203 $ 3,052-$3,154 LRT - NSN 454-466 $1,858-$1,896 $4,526-$4,591 BRT - Peninsula 339-344 $1,411-$1,427 $3,440-$3,446
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