Home › News ›

Light Rail An Expected Economic Boon In Oregon

Posted by: Nate Berg

24 December 2006 - 1:00pm

A new light rail project connecting several towns to downtown Portland, Oregon, is highly expected to boost the area's economy. Transit-oriented housing and retail development is expected to contribute significantly.

"TriMet, the transportation authority for metropolitan Portland, Oregon, estimates the $557 million project will roll in 7,600 jobs during construction, which begins in full next year and is expected to continue until the line opens in September 2009."

"By 2025, about 46,500 people are expected to board light rail every day between Clackamas Town Center and downtown Portland. About a third of those riders will travel within the section of the light-rail track that runs along I-205."

"In all, Portland-area light-rail lines have resulted in $6 billion of development within walking distance -- less than half a mile -- of MAX stations, said Mary Fetsch, a TriMet spokeswoman."

Full Story: Next stop: Prosperity, doors to my left
Source: The Oregonian, December 21, 2006
»
Bookmark and Share
“
Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
”