An interesting infographic illustrating the myriad of ways that bicycles bring businessto local and state/provincial economies.
Via Momenetum Mag.
Transcript: How Bicycles Bring Business
Cycling and Housing Sales
- Properties within 150 feet of bike paths sell for $8,800 more
- Properties closer to the Monon Trail sell for an average of 11% more
Business owners aren’t the only ones who benefit from bicycling; homeowners profit too. A study of house values near the Monon Trail in Indianapolis, IN measured the impact of of the trail on property values. Given two houses of the same size, with the same number of bedrooms and bathrooms, and comparable garages and porches—one with in a half a mile (800 meters) of the Monon Trail and another farther away the house—the house closer to the Monon Trail would sell for an average of 11 percent more.
A study of property values near trails in Delaware found that properties within 50 meters (150 feet) of bike paths sell for $8,800 more than similar homes.
Rolling Up Revenue
At the local level, the economic benefits of bicycling are striking. Add up the impact across the entire state and the results can be staggering. Here are just a few recent studies on the economic impact of biking at the state and provincial level.
- In IOWA, commuter and recreational bicycling generated more than $400 million in economic activity.
- In QUEBEC, the bike industry in the province generated more than $181 million in sales, supporting 2,800 jobs and generating $17.2 million in tax revenue for Quebec and $13.6 million in national taxes.
- The bicycle industry in WISCONSIN contributes $556 million and 3,418 jobs to the state economy, while recreational riders contribute another $924 million annually.
- In COLORADO, bicycling contributes $1 billion to the economy from manufacturing, retail, tourism, and bike racing; employing 1,213 people with an annual payout of $34.1 million.
- In VERMONT, biking and walking created at least 1,400 jobs, $41 million in wages and $83 million in revenue in 2009.
- In MINNESOTA, bicyclists spend$261 million annually, supporting more than 5,000 jobs and helping to generate $35 million in taxes.
NYC Car Centric Streets
- 5% increase in commercial vacancies across Manhattan.
- Manhattan-wide average of just 3% increase in sales.
- Shoppers arriving by car in the East Village only spent $2,145*.
NYC Bike Friendly Streets
- Pedestrian-friendly redesign with cycle track resulted in 49% fewer commercial vacancies in Union Square.
- Businesses along the 9th Avenue Cycle Track report up to 49% increase in sales.
- Shoppers arriving by bikes in the East Village spent $16,485
Transportation Alternatives, “East Village Shoppers Study” 2012. New York City Department of Transportation, “Measuring the Street: New Metrics for 21st Century Streets” 2012.