News: U of M Research: Locating employers near transitways yields the most economic benefits
November 29, 2012 - U of M releases a research summary to accompany a September 2012 transit-related study showing that encouraging employers to locate near transitways is important for the region’s economic future.Contact: Michael McCarthy, Center for Transportation Studies, firstname.lastname@example.org, (612) 624-3645
“We have seen that transitways often attract development, but we were interested in learning what types of development are most beneficial from an accessibility standpoint,”said assistant professor Yingling Fan, who conducted the research in association with the University of Minnesota’s Center for Transportation Studies (CTS). “What we learned is that locating places of employment near transitways yields the most benefits for employers, employees, and the entire economy.”
With the arrival of several new light-rail and bus rapid transit routes, Minnesota government planning and economic development officials are playing a role in shaping the type of development that occurs near these transitways. Traditionally, Minnesota has seen a number of housing developments built near transitways as developers see that Minnesotans are attracted to the commuting convenience transit offers.
But Fan found that when it comes to enhancing Minnesotans’ accessibility to jobs, seeking employers for development near transitways produces larger increases inaccessibility than seeking housing, with the caveat that the greatest accessibility benefits can only be realized by seeking both employers and housing...
(Follow link below to view the full news release.)