The University of Cincinnati is a proposed station stop along what may one day become a four-mile streetcar system in town. As such, UC recently turned to an internationally recognized economics researcher to help analyze whether the costs and benefits of such a system had been rigorously and accurately projected.
“We applied the smell test to the HDR study,” said Vredeveld, meaning he compared the process and methodology of other studies to that of the HDR study. The UC center also compared the ridership estimates in the HDR study to actual ridership for the Memphis and Portland, Oregon, streetcar systems.
“And we found that HDR was in the ballpark,” Vredeveld stated, regarding both ridership and economic-development payoffs in the form of increased property values, business development, employment and tax revenues along and close to the streetcar line.
Looking at what critics have to say
The UC center also closely examined criticisms of mass transit, specifically from the Cato Institute as applied to Portland, Oregon. They found that most of the criticisms don’t apply to Cincinnati streetcar proposals. That’s because the focus of the Cato Institute critique of Portland were more broadly based objections to the political process and a regional transit system – not related to any dispute of ridership and development results related to streetcars.
ConclusionCincinnati is on the right track in considering a streetcar system, according to Vredeveld. The likely average net economic payoff of $315.8 million, as estimated by HDR over a 35-year period, is sound, as is HDR’s most conservative net economic payoff estimate of $186.8 million over 35 years. Even if this most conservative payoff comes to pass, “the proposed streetcar system is economically worthwhile,” said Vredeveld.
M.B. Reilly | EurekAlert!
The Great Unknown: Risk-Taking Behavior in Adolescents
19.01.2017 | Max-Planck-Institut für Bildungsforschung
A sudden drop in outdoor temperature increases the risk of respiratory infections
11.01.2017 | University of Gothenburg
An important step towards a completely new experimental access to quantum physics has been made at University of Konstanz. The team of scientists headed by...
Yersiniae cause severe intestinal infections. Studies using Yersinia pseudotuberculosis as a model organism aim to elucidate the infection mechanisms of these...
Researchers from the University of Hamburg in Germany, in collaboration with colleagues from the University of Aarhus in Denmark, have synthesized a new superconducting material by growing a few layers of an antiferromagnetic transition-metal chalcogenide on a bismuth-based topological insulator, both being non-superconducting materials.
While superconductivity and magnetism are generally believed to be mutually exclusive, surprisingly, in this new material, superconducting correlations...
Laser-driving of semimetals allows creating novel quasiparticle states within condensed matter systems and switching between different states on ultrafast time scales
Studying properties of fundamental particles in condensed matter systems is a promising approach to quantum field theory. Quasiparticles offer the opportunity...
Among the general public, solar thermal energy is currently associated with dark blue, rectangular collectors on building roofs. Technologies are needed for aesthetically high quality architecture which offer the architect more room for manoeuvre when it comes to low- and plus-energy buildings. With the “ArKol” project, researchers at Fraunhofer ISE together with partners are currently developing two façade collectors for solar thermal energy generation, which permit a high degree of design flexibility: a strip collector for opaque façade sections and a solar thermal blind for transparent sections. The current state of the two developments will be presented at the BAU 2017 trade fair.
As part of the “ArKol – development of architecturally highly integrated façade collectors with heat pipes” project, Fraunhofer ISE together with its partners...
19.01.2017 | Event News
10.01.2017 | Event News
09.01.2017 | Event News
19.01.2017 | Earth Sciences
19.01.2017 | Life Sciences
19.01.2017 | Physics and Astronomy