Southeastern Pennsylvania Transportation Authority Serving Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties
Study: SEPTA Generates $2.93 Billion in Annual Economic Activity Throughout Southeastern Pennsylvania, Including $434 Million in Delaware County
April 10, 2018
MEDIA, PA (April 10, 2018) - On Wednesday, April 11, SEPTA will present the economic impact of its transit services and infrastructure investments to the Members of Delaware County Council.
A recently released report by Econsult Solutions, Inc. found that southeastern Pennsylvania is the economic engine of the Commonwealth, generating 41 percent of the state's economic activity with 32 percent of its population - on just 5 percent of its land. Between 2010 and 2016, Southeastern Pennsylvania grew by 81,565 residents, helping the state grow by 71,884 people. According to Econsult, this degree of economic productivity and density is not possible without SEPTA services, which provide residents with efficient, affordable and reliable options to move throughout the region.
Each year, SEPTA's Operations and Capital Program generate $2.93 billion in economic activity across the region, including $434 million in Delaware County. Examples of SEPTA's economic impact in the county include:
Overall, the impact of SEPTA's Capital Program has grown by 70 percent since the passage of Act 89, which provided the first-ever source of reliable, sustainable, dedicated funding for infrastructure investments to rebuild the system.
"With so many modes of public transportation serving nearly every corner of our county, SEPTA is a vital part of living and working in Delaware County," said Delaware County Council Chairman John P. McBlain.
"Thanks to the efforts of the region's legislative delegation to enact Act 89 in 2013, SEPTA has the resources necessary to rebuild their aging infrastructure, and the catalytic effect of those important investments can be seen in enhanced mobility and broader economic impacts."
SEPTA's full economic impact in southeastern Pennsylvania goes beyond job creation and economic activity alone.
Econsult's report quantified the extent to which SEPTA's rail system increases property values. The report analyzed 315,115 suburban residential property transactions between 2005 and 2016 and found that access to SEPTA's Regional Rail and Norristown High Speed Line adds $14.5 billion, or 7.4 percent, to suburban residential property value. In Delaware County, SEPTA's rail system is worth $3.7 billion, or 11 percent of total value. This added value supports a property tax base that funds schools and municipal services across the county. For example, SEPTA service increases residential property values on average:
SEPTA General Manager Jeffrey D. Knueppel will provide further details about the study at the 10 a.m. Delaware County Council meeting on Wednesday, April 11. Knueppel will also be available to talk to reporters after the meeting.
For more information about SEPTA's economic impact, including an interactive map of property value impacts, please visit: http://septa.org/economic-impact.