Streetcar Projects 3-to-1 ROI in Local Economic Development

Today’s guest blog post is from the City of Cincinnati:

The Cincinnati Streetcar project is anticipated to stimulate the local economy by attracting more businesses, new jobs and advanced revenue into the urban core and Greater Cincinnati economy. For every $1 spent, the City is projected to see $3 in return to the local economy.

In addition, 1,800 jobs are predicted to result from the construction of the Cincinnati Streetcar alone, and an estimated 9,000 jobs could be created over the next 20 years.

Studies indicate that development along the streetcar’s route will result in approximately $1.4 billion in economic impact. Residents could see impact in more than 1,100 new housing units, and businesses are estimated to benefit from 92 acres of land likely to be converted into 7.4 million square feet of new office and retail space.

All city neighborhoods will benefit from new jobs and residents paying general earnings.

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