BART extension will create jobs, boost economy
Written by jrood
The Santa Clara Valley Transportation Authority's BART Silicon Valley Project exemplifies findings from the recently released "Economic Impact of Public Transportation Investment" report, which demonstrates how increased investment in public transportation provides green jobs, wages and business income in industries that have been particularly hit hard by the economic downturn. Economic analysis of the BART Silicon Valley project by Wilber Smith and Associates estimated an overall return on investment of four to six dollars for every dollar spent on the $6-billion project. By 2030, the 16-mile extension is estimated to generate an additional $11.42 billion in gross regional product and $3.27 billion in personal income, with 66 percent of those dollars staying in Santa Clara County and the remainder benefiting the Bay Area region. The national average of short- and long-term economic benefits of public transit investments outlined in the APTA report is for every $1 invested in public transportation, $4 is generated in economic returns.
The report released by
The American Public Transportation Association also shows that for every $1
billion invested in public transportation capital and operations, an average of
36,000 jobs are supported. These 36,000 jobs result in roughly $3.6 billion of
business sales and generate nearly $500 million in federal, state and local tax
revenues.
"BART Silicon Valley will
create thousands of temporary and permanent jobs to build and then operate the
system. Easier access in and out of the county will greatly expand the county’s
labor force," states Carolyn Gonot, chief program officer, BART Silicon Valley.
BART Silicon Valley also
has long-term economic benefits from taking cars off the road. Estimates show a
savings of $8.65 billion after 15 years of operations from reduced congestion,
which reduces travel times, vehicle operating costs and accidents, in addition
to emissions.
"Public transportation
investments offer both short- and long-term benefits to our economy," notes
Glen Weisbrod of Economic Development Research Group, the author of the APTA
research effort. "This investment not only brings an immediate economic impact
on job creation and business sales, but it also provides the long-term benefit
of improving our nation’s transportation system, which in turn improves the
efficiency of our economy."
The BART to Silicon Valley
Project is an extension of the existing BART system to San Jose, Milpitas and
Santa Clara. This project plans to extend the current BART system 16 miles
beginning at the future BART Warm Springs Station in Fremont and proceed on the
former Union Pacific right-of-way through Milpitas to south of Mabury Road in
San Jose. The extension would then descend into a 5.1-mile-long subway tunnel,
continue through downtown San Jose and end at grade in Santa Clara near the
Caltrain Station. A maintenance and vehicle storage yard would be at the
terminus of the project in Santa Clara.
