Austin currently has opportunities that few other cities in the country have. Approximately $25 billion in infrastructure and mobility projects are planned, including Project Connect, airport expansion, and I-35 reconstruction. Infrastructure is no longer a component of other economic sectors in Austin, but a sector of its own worth growing. These projects should be prioritized because they improve mobility and address issues such as workforce development and affordability. This is good business and good for business.
One of the most effective ways to improve mobility is by investing in light rail, which is part of Project Connect. For many people, light rail provides an affordable, environmentally friendly and more efficient way to safely and quickly get to and from work and connect to the places they need and want to visit. It will also have an impact on other modes of transportation and reduce congestion on the roads, as transit users will no longer be in cars.
Austin light rail is estimated to create approximately 180,000 jobs in Central Texas. These include direct, high-paying careers with benefits. These jobs include engineers who design routes, crew members who construct them, and experts who operate trains and buses. This also includes indirect jobs created by further development of housing, offices, medical facilities, hospitality and entertainment around transit stations and plazas. In other cities around the world and in the United States, when new housing is built near transit stops, the number of people going to restaurants, retail stores, and services increases dramatically, increasing the number of residents, workers, and business owners. We know that new opportunities will emerge. Businesses want to be near transportation.
In Phoenix, the overwhelming majority of new businesses choose to locate along railroad lines. In Dallas, more than 42,000 jobs were created through the development of single-family, multifamily, retail, and office real estate along the railroad. Salt Lake County had a total annual economic impact of approximately 2,800 jobs, $136 million in revenue, and more than $410 million in annual business sales.
Perhaps most importantly, new train and bus lines will allow more workers to get to work, school, and medical appointments in a timely and efficient manner while saving money on car purchases. , the city's affordability has improved.
Prioritizing transportation and infrastructure projects will help Austin continue to successfully recruit new businesses and jobs to the region. Public transportation solutions help cities remain competitive by accommodating the housing, lifestyle, and cultural preferences of a growing, young workforce. A recent study by the American Public Transportation Association found that a large portion of the young workforce is attracted to areas with high-quality public transportation service. The implementation of a new transit system in Austin is estimated to generate $19.9 billion in business sales and $8.7 billion in additional wages by 2045.
We encourage the Austin business community to continue supporting all of these transportation and infrastructure projects. Investing the time and energy now will benefit not only the business community, but everyone who calls Austin home or visits the city of Austin.
Stern is executive director of Mobility, the Central Texas Transportation Management Association, which works to address traffic congestion and air quality to protect the region's economic vitality.
Mr. McCamley is the Executive Director of Transit Forward.
