Economic Development Research Group Completes Ground Breaking Transportation Study
The American Public Transportation Association (APTA) released a new study last week that highlighted public transportation investments economic impact on the United States.
The study, which was conducted by New England Council member Economic Development Research Group, Inc.,(EDRG) found that with every $1 billion invested in infrastructure projects, some 50,700 jobs will be created. Further, for every dollar invested, four dollars in economic return would result. Additionally, the study showed federal government tax revenue would increase by $3.3 billion per year while $1.1 billion tax revenue per year for state and local governments would be realized through increased economic productivity as a result of transportation projects.
“The data are clear: one of the strongest tools to create a vital and productive national economy and build strong communities is investment in public transportation,” said APTA President and CEO Michael Melaniphy.
The study also provided examples of current public transportation projects across the country and the economic impact they have. The New England Council applauds EDRG for conducting this study to show the importance of infrastructure investment.