INDIANAPOLIS — The first phase of the Indy Connect plan for improved mass transit in Central Indiana would create more than 7,000 jobs paying $1.5 billion to workers in its first 10 years, according to a study commissioned by the Indianapolis Metropolitan Planning Organization.
Of the 7,182 jobs estimated to be created during the project’s development and initial years of operation, 3,809 would be construction-related jobs and 3,373 would be permanent jobs, according to the study conducted by Morris, Lloyd & Associates LLC.
Of the 3,809 construction-related jobs, 1,579 would be direct and 2,230 would be indirect. Of the 3,373 permanent jobs, 2,212 would be direct and 1,261 would be indirect.
“These job impact results are consistent with other studies, showing how transit impacts the economic development of a region,” Anna Tyszkiewicz, executive director of the Indianapolis Metropolitan Planning Organization, said in a press release.
Building and operating the first phase of the Indy Connect plan would pump $3.8 billion into the economy from 2015 to 2025. The majority of that total — $2.3 billion — would be related to permanent operations, while $1.5 billion would be related to construction of the system.
“As exciting as these numbers are, they only consider the impact of the construction and development of the system itself,” Tyszkiewicz said. “These numbers don’t include the impact of neighborhood development and other economic activity that will result from an improved transit system.”
To conduct its study, Morris, Lloyd & Associates considered the impact of the Indy Connect plan on Marion County and the eight surrounding counties. The research complements two other recent studies by the Ball State University Center for Business and Economic Research and HDR Inc. The Ball State study, released in January 2013, found that for every $1 invested for local transit, $3 would be returned to the local economy. HDR’s Benefit Cost Analysis from November 2011 found that Phase One of the Indy Connect plan specifically would have a 11.2 percent internal rate of return (IRR) to the economy with a total benefit cost ratio of 2.0.
For more information on the Indy Connect plan, visit the website at www.indyconnect.org.