CHARLOTTE, NC - A recent study from the NC State's Institute for Transportation Research and Education along with UNC Charlotte's Urban Institute showed that Charlotte Region will lose 126,100 jobs by 2050 if the Region does not make the necessary infrastructure investment.
The study presented conclusive results of an Economic Impact Study emphasizing the pressing need for the Transformational Mobility Network (TMN) to provide reliable and efficient means of transportation. The economic analysis showed that TMN will bring great benefits to Charlotte.
Without the TMN, on the other hand, the Region could lose up to 126,100 jobs, $10.1 billion in lost wages, $3.0 billion in tax revenue, and $28.0 billion in economic outputs by 2050. As congestion could disrupt employment growth when it reaches a certain point, talent and businesses might choose another location if congestion and other traffic issues go untreated.
The study indicated that TMN could bring billion of dollars in economic output and will enhance the quality of life of residents and visitors by providing easy access to places such as parks, trails, schools, universities, and more. Moreover, TMN will address driver stress by constructing safer roads with less congestion, improve equity with better public transportation access, allow safer walking and cycling activities that would enhance physical health with well-connected networks, and be a good selling point for companies looking to expand their businesses.
In the next couple of months, Charlotte Regional Business Alliance will use the study results to assist the public and private partners in their efforts to launch the TMN in order to avert the economic implications of transportation issues.
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