A new study by the American Public Transportation Association (APTA) has found that every $1 billion invested into public transportation delivers $5 billion in economic benefits, and an estimated 41,400 jobs.
The study, the American Public Transportation Association (APTA) Surface Transportation Authorization Recommendations, provided evidence that sustained federal investment into public transit and passenger rail delivers returns for workers, communities, taxpayers and the U.S. economy, officials said.
“Public transportation is one of the smartest investments we can make in America’s economic future,” Paul P. Skoutelas, president and CEO of APTA, said. “A $1 billion investment doesn’t just move people. It moves our entire economy forward, creating tens of thousands of jobs and unlocking billions in economic opportunity.”
The APTA Board of Directors previously voted to approve the APTA Surface Transportation Authorization Recommendations which encouraged Congress and the Trump Administration to provide $138 billion budget for public transit and $130 billion for passenger rail over the next five years. The continued investment would drive job creation, innovation and economic growth, the group said.
APTA’s Economic Impact of Public Transportation Investment report found that investment into public transportation would create an additional $140 billion in annual impacts on the American economy through job creation, increased tax revenue, improved access to jobs and healthcare, reduced congestion and lower household transportation costs.
The investment would also allow public transit agencies across the country to address the more than $150 billion state-of-good repair backlog.
“Federal investment has delivered results, but the job is far from finished,” Skoutelas said. “A strong, long-term Federal commitment is essential to drive job creation, innovation, and economic growth across the nation.”