A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Evaluation of wider economic impacts of light rail investment on cities
Abstract Transport plays a critical role in facilitating competitiveness in post-industrial economies. High quality transport services and infrastructure enhance internal and external connectivity. This research examines published and unpublished evidence of economic impacts of modern light rail (tram and light metro) systems in the United Kingdom and globally. Evidence is considered relating outcomes of investment in light rail systems to: unlocking previously hard to reach sites for development; triggering fresh growth through elimination of significant transport constraints; stimulation of inward investment; extension of labour market catchment areas; reorganisation or rationalisation of production, distribution and land use; and land and property value increase and capture. Urban light rail investment can help regenerate Central Business Districts and boost employment and property prices. Similar rail investments in different locations may not however have the same economic impacts — geography matters. Other conditions in addition to transport investment are required for positive externalities.
Highlights Light rail can have positive economic impacts on cities, but location matters. Light rail systems improve accessibility, and usually increase land and property values. Light rail alone is rarely a sufficient catalyst for regeneration and economic change. Economic impacts of light rail are enhanced if co-ordinated with land use planning. Light rail can help cities attract inward investment.
Evaluation of wider economic impacts of light rail investment on cities
Abstract Transport plays a critical role in facilitating competitiveness in post-industrial economies. High quality transport services and infrastructure enhance internal and external connectivity. This research examines published and unpublished evidence of economic impacts of modern light rail (tram and light metro) systems in the United Kingdom and globally. Evidence is considered relating outcomes of investment in light rail systems to: unlocking previously hard to reach sites for development; triggering fresh growth through elimination of significant transport constraints; stimulation of inward investment; extension of labour market catchment areas; reorganisation or rationalisation of production, distribution and land use; and land and property value increase and capture. Urban light rail investment can help regenerate Central Business Districts and boost employment and property prices. Similar rail investments in different locations may not however have the same economic impacts — geography matters. Other conditions in addition to transport investment are required for positive externalities.
Highlights Light rail can have positive economic impacts on cities, but location matters. Light rail systems improve accessibility, and usually increase land and property values. Light rail alone is rarely a sufficient catalyst for regeneration and economic change. Economic impacts of light rail are enhanced if co-ordinated with land use planning. Light rail can help cities attract inward investment.
Evaluation of wider economic impacts of light rail investment on cities
D. Knowles, Richard (author) / Ferbrache, Fiona (author)
Journal of Transport Geography ; 54 ; 430-439
2015-09-05
10 pages
Article (Journal)
Electronic Resource
English
Assessment of Wider Economic Impacts of High-Speed Rail for Great Britain
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