$650 Million In Economic Benefits + 3,000 New Jobs in Greater GR
A Transit Master Plan or TMP is a comprehensive, 20-year plan that will guide the future development of The Rapid transit system. The following is a section pulled from the approved TMP. Download the full Transit Master Plan from The Rapid's TMP website.
Benefits of TMP Implementation
Public transit has many economic and community benefits – including both direct benefits that are derived primarily by transit riders and workers, and secondary benefits that are accrued by nonâusers and the community in general. These benefits include increased productivity resulting from travel time savings; reduced travel costs; access to jobs, shopping, community and medical facilities for riders; reduced congestion and greenhouse gases; energy conservation; ability to influence land use and growth; and creation of new jobs. The table shown below, summarizes The Rapid’s economic benefits for its 2008 service levels. Taken together, The Rapid system in 2008 generated annual benefits of $39.7 million in transportation cost savings, $5.2 million in lowâcost mobility benefits, $86 million in economic impacts and 525 jobs.
The TMP Preferred Scenario, which nearly doubles annual operating costs (in 2010 dollars) and annual ridership, would generate annual benefits approximately twice the 2008 benefits, or about $80 million in transportation cost savings, $10 million in lowâcost mobility benefits, $170 million in economic impacts, and more than 1,000 jobs. In addition, the Preferred Scenario would generate additional economic benefits that would result from the BRT and streetcar projects – the creation of transitâoriented developments, more sustainable and livable communities, and more efficient land use patterns. The Grand Rapids Streetcar Feasibility Study (2009) estimated that the downtown streetcar project would generate $388 million in new housing, office, retail and hotel development within ¼ mile of the streetcar line and 1,800 jobs in Kent County. An economic benefit analysis for the West SideâMedical Mile streetcar project has yet to be developed. Conservatively, the TMP’s Preferred Scenario would generate more than $650 million in economic benefits and 3,000 jobs for the greater Grand Rapids region.
See the Full Master Transit Plan
