Appendix 5 - Transit and Economy
Transit and the Economy
Public transit contributes to our economic health at different scales. Our individual and collective economic futures depend on where and how we grow as a province and the opportunities we have access to. Leading with transit will allow us to protect Nova Scotia’s landscape and heritage while connecting rural, suburban, and urban communities.
The Economic Impact of Transit Investment: A National Survey (2010) commissioned by the Canadian Urban Transit Association, took a holistic look at the diverse economic impacts of Canada’s investment in transit facilities and services. Below are just a few key points that reflect how Transit drastically impacts our economy at the National, Provincial, and Local Community scales as well as our Health Care system, Households, and at an individual level.
Nation, Nova Scotia & Our Local Communities
The Canadian transit industry generates jobs, income and wealth for the country’s economy. Capital intensive transit systems generate employment in construction, professional services, research and development
The economic benefit of Canada’s existing transit systems is at least $10 billion annually.
Public transit encourages more compact development, enabling the better use of scarce resources; land, energy and financial capital.
Transit also improves access to the labour pool for employers in large and small communities alike.
The transit industry directly employs 45,300 Canadians and indirectly creates an additional 24,300 jobs.
Health
Transit reduces annual greenhouse gas emissions by 2.4 million tonnes, valued at $110 million.
Transit saves about $115 million in annual health care costs related to respiratory illness, by mitigating the impacts of poor air quality on the health of individuals.
Transit reduces the economic costs related to health care and lost productivity of traffic collisions by almost $2.5 billion annually.
Household
Transit reduces vehicle operating costs for Canadian households by about $5 billion annually.
Public transit is an important transportation option for the majority of Canadians who live in urban areas.
For people without access to personal motor vehicles, transit provides a way to get to work, school, recreation, shopping and personal services.
Commuting by transit is a third to half as expensive as commuting by car
Taking transit can give a substantial boost to a family’s disposable income.
Individual
Transit passengers save money by not having to operate an automobile. Transit is also safer than automobile use and reduces death, injury and property damage suffered due to traffic collisions.
Transit customers save time by avoiding congested roads, and other road users also benefit from reduced congestion.
