From job opportunities to station-area development potential, South Coast Rail will improve economic development and vitality in the region and statewide! The project will help revitalize Gateway Cities facing high unemployment rates and disinvestment. The award-winning South Coast Rail Economic Development and Land Use Corridor Plan lays out a blueprint for supporting the region’s quality of life through smart growth and sustainable development principles.
According to the American Public Transportation Association (APTA), every $1 spent on public transportation generates $4 in economic returns!
Crunching the Numbers… South Coast Rail’s projected economic benefits include:
- $450 to $490 million in new economic activity annually
- $1.4 to $1.8 billion in new economic activity during construction
- 3,500 to 3,800 new long-term jobs, and 6,800 to 7,800 jobs during construction
- $146 to $160 million in household income resulting from out-of-pocket savings in travel costs, increased accessibility to jobs, gains in business and labor productivity and access to affordable real estate
- $314 to $360 million in household income during construction
- Development potential adjacent to South Coast Rail stations:
- 6,500 to 8,700 new residential units
- 5.0 to 5.3 million square feet of commercial development
- 10,600 to 11,500 jobs
- $2.9 to $3.6 billion increase in value of real estate
- $62 to $77 million revenue in local property taxes
Did you know? Nationally, APTA reported 42% higher property values near public transit (and this was during the 2006-2011 market downturn!).
For more information on these economic benefits, check out the South Coast Rail Economic Development and Land Use Corridor Plan and Chapter 4 of the Final Environmental Impact Statement/Final Environmental Impact Report.