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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Nichol Bourdeaux, Chief Planning and Engagement Officer |
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PRESENTER(S): |
Alex Beim, Manager of Longe Range and Strategic Planning |
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Dede Murray, Strategic Planner III |
TITLE:
title
UTA Economic Value Study
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
Informational item for discussion
BACKGROUND:
In the fall of 2023, UTA, in coordination with transportation partners, engaged the services of Metro Analytics to conduct a study looking at the economic effects of transit within the context of the Utah Unified Transportation Plan (UUTP). Metro Analytics also developed the economic impact study for the UUTP. 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 and a Report Addendum.
ALTERNATIVES:
N/A
FISCAL IMPACT:
The funds to procure this study were approved in the 2023 and 2024 Planning Operating Budgets under account code 6200.50339.
ATTACHMENTS:
• Transportation Efficiency Analysis Report