What Is Northern Virginia Transit’s Value to the Commonwealth?

Marybeth Luczak Jun 2, 2023

Thread Status:
Not open for further replies.
  1. Marybeth Luczak

    Marybeth Luczak Guest

    0
    0
    0
    At least $1 billion of this value can be attributed to the Washington Metropolitan Area Transit Authority’s (WMATA) Metrorail rapid transit system, the study estimates.

    [​IMG]

    Northern Virginia accounted for more than 40% of Virginia’s Gross State Product (GSP) in 2021, and is the location for one out of every three jobs in the commonwealth, according to data from the U.S. Bureau of Economic Analysis (BEA).

    The Value of Northern Virginia Transit to the Commonwealth study (download below) updates and builds off the results of NVTC’s similar study in 2018, which found that the impact of Metrorail and Virginia Railway Express (VRE) to the commonwealth was $600 million per year. The current study, conducted by AECOM, assesses the impact of all transit modes—WMATA’s Metrorail and Metrobus, VRE, and all local bus systems—and the employment effects in Northern Virginia. It also adjusts for the changes in ridership and travel patterns that occurred due to the COVID-19 pandemic.

    060123_NVTC-Value-of-NoVa-Transit_Full-Technical-ReportDownload

    According to NVTC, the study “confirms the importance of this region’s transit system” to the economic vitality of not only Northern Virginia, but also to the commonwealth.

    Among the study’s highlights:

    • Every dollar Virginia invests in transit generates an additional $1.60 in statewide revenues that can be spent on other programs—an 160% return on investment.
    • Without the existing transit network in Northern Virginia, by 2025 the Memorial, Roosevelt and Wilson bridges connecting Northern Virginia to the District of Columbia would each need two additional lanes to accommodate the greater traffic volumes, while the 14th Street Bridge would need three additional lanes. “In addition, the roadway networks within Northern Virginia would come to a complete standstill, affecting the movement of goods and services throughout our region,” NVTC reported.
    [​IMG]
    • Without the existing transit network in Northern Virginia, by 2025 total employment would decrease by more than 311,000 jobs, including nearly 41,000 jobs in areas of the commonwealth outside of Northern Virginia and 76% within one-half mile of a Metro station; and the region would be unable to support 128,000 households or 13% of Northern Virginia’s housing stock.

    “NVTC’s Value of Northern Virginia’s Transit Network to the Commonwealth study attests to the unparalleled importance of Metro, Virginia Railway Express and our six bus systems to the economic growth and prosperity of all of Virginia,” NVTC Chair Dalia Palchik said.

    The post What Is Northern Virginia Transit’s Value to the Commonwealth? appeared first on Railway Age.

    Continue reading...
     
Thread Status:
Not open for further replies.

Share This Page