Featured Research

from universities, journals, and other organizations

Economic Payoff Of Proposed Streetcars In Cincinnati Examined

Date:
August 27, 2008
Source:
University of Cincinnati
Summary:
The University of Cincinnati is a proposed station stop along what may one day become a four-mile streetcar system in Cincinnati. Scientists have analyzed whether the costs and benefits of such a system have been rigorously and accurately projected.

The University of Cincinnati is a proposed station stop along what may one day become a four-mile streetcar system in town. As such, UC recently turned to an internationally recognized economics researcher to help analyze whether the costs and benefits of such a system had been rigorously and accurately projected.

That researcher is the university’s own George Vredeveld, director of the Economics Center for Education & Research at UC, who collaborated with Jeffrey Rexhausen, associate director of research at the center and G. Irem Yelkanci, research assistant. Other U.S. cities and even other countries frequently turn to Vredeveld and the center to help sort out labor, development, environmental, small business, transportation and other issues impacting regional economics.

“Grading” the recently completed HDR Streetcar Feasibility Study

UC and the Economics Center for Education & Research are releasing a report today. This Assessment of the Cincinnati Streetcar Study “grades” the in-depth streetcar report (the HDR Streetcar Feasibility Study) completed in 2007 on behalf of the City of Cincinnati by HDR, Inc., of Omaha. The report also includes a description of howstreetcars have affected other cities.

“We applied the smell test to the HDR study,” said Vredeveld, meaning he compared the process and methodology of other studies to that of the HDR study. The UC center also compared the ridership estimates in the HDR study to actual ridership for the Memphis and Portland, Oregon, streetcar systems.

“And we found that HDR was in the ballpark,” Vredeveld stated, regarding both ridership and economic-development payoffs in the form of increased property values, business development, employment and tax revenues along and close to the streetcar line.

Looking at what critics have to say

The UC center also closely examined criticisms of mass transit, specifically from the Cato Institute as applied to Portland, Oregon. They found that most of the criticisms don’t apply to Cincinnati streetcar proposals. That’s because the focus of the Cato Institute critique of Portland were more broadly based objections to the political process and a regional transit system– not related to any dispute of ridership and development results related to streetcars.

Conclusion

Cincinnati is on the right track in considering a streetcar system, according to Vredeveld. The likely average net economic payoff of $315.8 million, as estimated by HDR over a 35-year period, is sound, as is HDR’s most conservative net economic payoff estimate of $186.8 million over 35 years. Even if this most conservative payoff comes to pass, “the proposed streetcar system is economically worthwhile,” said Vredeveld.

Additional details

The current proposal for a Cincinnati streetcar system calls for a four-mile looped system that travels from Cincinnati's riverfront, near the stadiums and the Banks project, through downtown north into Over-the-Rhine, with stops at Music Hall and Findlay Market, and then on to UC. According to this latest report from the Economics Center for Education & Research at UC, the proposed route is a plus because systems that link major activity centers (employment, shopping and recreation) generally experience higher levels of ridership.

For a full copy of the UC Assessment of the Cincinnati Streetcar Study, go to http://www.uc.edu/community/documents/cincinnati_streetcar_white_paper.pdf

For a copy of HDR’s 2007 Streetcar Feasibility Study completed on behalf of the city, go to http://www.cincinnati-oh.gov/city/downloads/city_pdf17754.pdf


Story Source:

The above story is based on materials provided by University of Cincinnati. Note: Materials may be edited for content and length.


Cite This Page:

University of Cincinnati. "Economic Payoff Of Proposed Streetcars In Cincinnati Examined." ScienceDaily. ScienceDaily, 27 August 2008. <www.sciencedaily.com/releases/2008/08/080827163822.htm>.
University of Cincinnati. (2008, August 27). Economic Payoff Of Proposed Streetcars In Cincinnati Examined. ScienceDaily. Retrieved October 21, 2014 from www.sciencedaily.com/releases/2008/08/080827163822.htm
University of Cincinnati. "Economic Payoff Of Proposed Streetcars In Cincinnati Examined." ScienceDaily. www.sciencedaily.com/releases/2008/08/080827163822.htm (accessed October 21, 2014).

Share This



More Science & Society News

Tuesday, October 21, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Traditional Farming Methods Gaining Ground in Mali

Traditional Farming Methods Gaining Ground in Mali

AFP (Oct. 20, 2014) He is leading a one man agricultural revolution in Mali - Oumar Diatabe uses traditional farming methods to get the most out of his land and is teaching others across the country how to do the same. Duration: 01:44 Video provided by AFP
Powered by NewsLook.com
Your Birth Season Might Determine Your Temperament

Your Birth Season Might Determine Your Temperament

Newsy (Oct. 20, 2014) A new study says the season you're born in can determine your temperament — and one season has a surprising outcome. Video provided by Newsy
Powered by NewsLook.com
How Nigeria Beat Its Ebola Outbreak

How Nigeria Beat Its Ebola Outbreak

Newsy (Oct. 20, 2014) The World Health Organization has declared Nigeria free of Ebola. Health experts credit a bit of luck and the government's initial response. Video provided by Newsy
Powered by NewsLook.com
Ebola Worries End for Dozens on U.S. Watch Lists

Ebola Worries End for Dozens on U.S. Watch Lists

Reuters - US Online Video (Oct. 20, 2014) Forty-three people who had contact with Thomas Eric Duncan, the first person diagnosed with Ebola in the U.S., were cleared overnight of twice-daily monitoring after 21 days of showing no symptoms. Rough Cut (no reporter narration). Video provided by Reuters
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:

Strange & Offbeat Stories


Science & Society

Business & Industry

Education & Learning

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins