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TO: |
Local Advisory Council |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Nichol Bordeaux, Chief Planning and Engagement Officer |
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PRESENTER(S): |
Jay Fox, Executive Director |
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Alex Beim, Manager of Long Range and Strategic Planning |
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Heather Barnum, Chief of Communications |
TITLE:
title
Economic Value of Transit Study
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
Informational item for discussion
BACKGROUND:
In the fall of 2023, a contract was executed with Metro Analytics to conduct a study isolating the unique contributions of transit within the context of the impacts in the Utah Unified Transportation Plan (UTP). Metro Analytics was also the selected consultant that developed the economic impact study for the UTP.
The study involved analysis of UTA’s transit service, quantifying the benefits and economic impacts of today’s transit assets and services. The study findings provided information on the cost savings and associated performance outcomes of transit as it currently exists in the UTA service area (2023 data).
DISCUSSION:
Key findings of the reports have been summarized to showcase the economic return of UTA services. This includes impacts on spending, travel efficiencies, transportation savings, job creation, market access, workforce participation, and tax outcomes. Analysis findings were developed into a report with maps, tables, and charts illustrating the contribution that transit makes to the Utah Economy. This report is supported by a Key Findings Summary.
At the Local Advisory Council’s November meeting, Authority staff will provide a presentation on the key finding and takeaways from the study’s reports.
ALTERNATIVES:
N/A
FISCAL IMPACT:
The project consultant budget was $284,500
ATTACHMENTS:
Economic Value of Transit Study Key Takeaways
Value of UTA Transit Fact Sheet