REGIONAL ECONOMIC IMPACTS OF LOCAL TRANSIT FINANCING ALTERNATIVES: INPUT-OUTPUT RESULTS FOR PORTLAND

Abstract

Mass transit providers are facing mounting pressure to extend the scope of local financing in the wake of reductions in federal operating subsidies. In this study are discussed the economic impacts in the Portland, Oregon, metropolitan area associated with generating $1 million in local transit funding from the following seven alternative sources: personal income, property, retail sales, gasoline sales, downtown parking, payrolls, and a transit fare increase. An input-output model of the metropolitan area is used to estimate the change in sectoral output that would result from transferring resources from nontransit activities to transit operations. Aggregate economic activity declines for all seven financing alternatives, although net increases are calculated for a number of individual sectors. Overall, the reduction in economic activity was minimized with a gasoline tax and maximized with a fare increase. Although the value of external transit benefits was not considered in the analysis, a rationale for evaluating these benefits in light of the study results was outlined.

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