Looks like the streetcars have effectively been killed off after already spending millions. Good news is unallocated funds will go to building playgrounds in Georgetown!
Uh, no. The economic impact of transit construction is well known:
- According to US DOT director Norman Mineta, every $1 billion invested in the nations’ transportation infrastructure supports approximately 47,500 jobs.
- Transit capital investment is a significant source of job creation. In the year following the investment 314 jobs are created for each $10 million invested in transit capital funding.
- Transit operations spending provides a direct infusion to the local economy. Over 570 jobs are created for each $10 million invested in the short run.
- Tri-Rail of South Florida expects its five-year public transportation development plan to spawn 6,300 ongoing system-related jobs.
- New York’s East Side Access project is expected to generate 375,000 jobs and $26 billion in wages.
- In 2000, the average downtown vacancy rate for cities without rail was 12.8%, but 8% for all cities with rail transit.
Playgrounds: not so much. Terrible, terrible decision with far-reaching, all-bad repercussions for the DC economy.
Lemkin 