Study: Investment in regional transit highly beneficial to Twin Cities

Author:
Updated:
Original:

A study released by the Istaca Project Friday says an investment of $4.4 billion to build out a regional transit system in the Twin Cities would yield up to $10.1 billion in direct benefits to the local economy, the Minneapolis-St. Paul Business Journal reported.

The Itasca Project, which hired Cambridge Systematics Inc. of Cambridge, Mass., to complete the study, outlined a scenario where the Twin Cities would add three light rail lines, two bus rapid transit extensions, and several new rapid-transit bus lines.

If the $4.4 billion project were completed by 2030, it would return $10.1 billion between 2030 and 2045. Itasca also highlighted an accelerated scenario, where if $5.3 billion were invested by 2023, it would yield between $10.8 and $16.5 billion between 2023 and 2045.

The study comes out just a couple weeks after a protest by in St. Louis Park against the proposed plan for the $1.25 billion Southwest Light Rail Transit line, which would run between Minneapolis and Eden Prairie.

Next Up

general mills

General Mills to buy pet treats business from Tyson Foods for $1.2B

The Golden Valley company will add a number of meat treats to its portfolio.

Twin Cities Pride 3

Twin Cities Pride is going ahead in July this year – but no parade

The in-person event will be held in Loring Park in Minneapolis.

Screen Shot 2021-05-14 at 12.27.58 PM

Rejuvenation, Williams-Sonoma's furniture brand, to open first MN location

It is moving into the former Restoration Hardware unit at the Galleria in Edina.

police lights

Charges: Driver pulled alongside, shot at motorist on I-35

The man is charged with second-degree assault.

classroom

7th Minnesota school employee dies from COVID-19

The death was confirmed by the health department.

duluth lighthouse

Want a lighthouse? The U.S. Coast Guard is giving one away in Duluth

Federal, state and local agencies, as well as some nonprofits are eligible to take over the lighthouses for free.

Related

Study: Rochester to Twin Cities high speed rail offers $1 billion in annual economy boost

Supporters of a high speed rail line between Rochester and the Twin Cities say it could result in a $1 billion yearly economic benefit. The prediction comes from Rochester Area Economic Development, Inc., a business promotion group. The study puts the number of estimated riders at one million per year.