According to an analysis by Scioto Analysis released earlier this month, a new passenger rail service between Ohio’s four largest metro areas will contribute $106 million to $107 million to gross state product. After the initial investment, the corridor will continue to contribute $25 million to $47 million to gross state product per year from the economic impact of ridership.
"Just the investment to get this line started will have as much economic impact as all the passengers and cargo moved by ship, barge, and boat on Ohio's rivers and Lake Erie over an entire year,” says Scioto Analysis Principal Rob Moore.
The study was sponsored by All Aboard Ohio and funded by a grant from the Columbus Foundation.
The study reveals more investment benefits along the 3C&D Corridor.
Investment in the 3C+D corridor will create 1,100 to 1,200 jobs, most in the construction industry. Revenue generated from the nine stations due to ridership will support 170 to 320 jobs every year, primarily in the transportation and warehousing industry but also in a range of other industries.
Initial investment will generate $64 million to $66 million in new wages for workers across the country, which will raise $3.5 million to $3.7 million in state and local tax revenue.
Ongoing ridership will generate $11 million to $21 million in new wages per year, which will lead to $600,000 to $1.2 million in annual tax revenue.
These results have also been localized to the four major Metro areas, and include the communities of Crestline, Delaware, Springfield, and Sharonville. The City of Hamilton is also a possible station stop and would be included in the Cincinnati Metropolitan Statistical Area if it is ultimately chosen.
All Aboard Ohio will be promoting the results of the study in a series of “whistle stop tour” presentations across the state in January. You can find more information about these presentations here.