The results of a new study indicate that a “Yes” vote for the Mayors’ Transportation and Transit Plan would mean a significant boost to the regional economy and transit funding.
The study was done by economists at InterVISTAS Consulting Group, who found that the Plan “would add an average of $450 million per year to the regional economy through the first 10 years of the plan roll-out; and $1.6 billion per year by 2045.”
The financial bump to the region would stem from “both direct and indirect new construction and transportation related jobs required to build, operate and manage the transportation improvements in the Plan,” according to a news release. The Mayors’ Plan is expected to create over 7,000 new jobs by 2030, and over 12,000 by 2045. These jobs would be in the fields of construction, engineering, machine operations, vehicle and technical operations, customer service, and maintenance, and, while compensation would vary, the gigs are being described as “well-paying, family supporting jobs.”
In addition to the economic benefits for the region, the Mayors’ Plan would mean a more robust transit system better able to serve the needs of its users.
“A ‘yes’ will not only give our region more buses and better roads, new LRT, expanded SkyTrain, more SeaBus, HandyDART and NightBus,” said Richmond Mayor Malcolm Brodie, who also noted that the Plan would improve congestion issues for regional traffic.
Vancouver Mayor Gregor Robertson, chair of the Mayors’ Council added: “Improving and expanding our transit and roads would not only help the one million people coming to our region get around, but would also create a huge economic stimulus for our region for years to come as these improvements are built, managed and operated.”
To pledge your support for “yes,” visit www.bettertransit.info.
For more information on the Mayors’ Plan, visit www.mayorscouncil.ca.
In less than 30 days, starting on March 16, registered voters will begin to vote in the transit referendum and will have until May 29, 2015 to mail in their ballot. For more information on the voting process, visit www.elections.bc.ca/plebiscite.