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Economic study: Urban Rail impact could reach $31 billion
posted by danx111 on September 9th, 2013 1:47 PM
A new study shows that the economic benefits of Urban Rail could include 58,000 new jobs, a 17 percent reduction in parking demand, 2,900 affordable housing units and a $31 billion total economic impact in Austin by 2030. Kevin Johns and Greg Kiloh of the City's Economic Growth and Redevelopment Services Office, along with Dr. Bob Paterson and Dr. Paul Navratil of the University of Texas briefed the City Council and the public on possible economic benefits and impacts for the community, should Austin invest in Urban Rail. The benefits were found after a $3.7 million grant from the U.S. Department of Housing and Urban Development simulated development around Urban Rail transit centers and then funded a benefit analysis using an advanced computer system housed at the Texas Advanced Computing Center at UT. The research and grant are part of the City's Sustainable Places Project. According to City Officials, these benefits depend on the mode of transportation and routes chosen, as well as what types of government policies are established regarding development.
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