Local Transportation Projects Could Create 500,000 Jobs & $68.8 Billion, Study Finds
The one thing saving Mayor Antonio Villaraigosa from two black eyes right now is his 30/10 Plan, which would build 30 years of planned public transportation infrastructure--that's 12 projects, mostly rail--in 10 years. The money is already guaranteed thanks to the voter approved Measure R, a half-cent sales tax. Problem is, the anticipated $30 to $40 billion will come in over the next 30 years. Villaraigosa's solution is to ask congress for a loan upfront with a guarantee to pay it back. So far, it's garnering praise and today it's getting another boost.
A study released today concluded that all projects under Measure R, not just those under 30/10, could create over 500,000 part-time and full-time jobs with total earnings of $22.4 billion. That's an annual average of 16,900 jobs with $746 million in annual earnings.
The Construction Impact of Metro’s Measure R Transportation Projects (.pdf) by the non-profit Los Angeles County Economic Development Corporation (LAEDC) says most of the jobs would come from highway and freeway projects. 341,500, or 11,380 jobs a year, would be created to build new corridors, lanes, grade separations and sound wall barriers. The total regional economic output is projected at $46.3 billion.
Public transit projects, such as light rail, subway and bus rapid transit could create 5,530 jobs, earning of $244 million annually and generating $22.5 billion in total output for the regional economy.