In Fiscal Year 2019, SEPTA’s 2,800 trains, buses, trolleys and paratransit vehicles provided 1.0 million trips across the region to work, school, appointments and entertainment. This transit service is the lifeblood of the regional economy. As one of the area’s largest employers, SEPTA also supports the economy as a jobs provider and purchaser of goods and services to keep the system running. The total value of this economic activity averages $3.24 billion per year to the five-county region, supporting 25,200 jobs, $1.80 billion in worker earnings, and associated tax revenues.
Act 89 – Capital Impact
The Pennsylvania State Legislature’s passage of Act 89 in 2013 was a watershed moment in SEPTA’s history. For the first time, SEPTA had dedicated funding for a capital investment program to address a backlog of infrastructure repair needs. Now six years into a “Rebuilding the System” program, Act 89 is also having a substantial impact on the regional economy, up 119 percent compared with pre-Act 89 levels. The total value of this economic activity averages $977 million per year to the five-county region, supporting 6,600 jobs and $381 million in worker earnings.
Note: CAPITAL impact numbers represent FY2015 – FY2019 (IN $2019) AVERAGE ANNUAL
Suburban Residential Property Value Impacts
Access to transit increases home values. Statistical models allow economist to isolate this value through the analysis of housing sales. ACCESS TO SEPTA SERVICE CONTRIBUTES A PREMIUM OF $33 BILLION IN HOUSING VALUE, representing 11% OF TOTAL HOUSING VALUE IN SOUTHEASTERN PA.
Residential Property Value Based on Proximity to SEPTA Rail Transit
Access to rail transit increases property values. Models allow economists to isolate this value through analysis of home sales. On average, suburban residential property values in Southeastern Pennsylvania are 7.4 percent higher, totaling $14.5 billion in added home value associated with SEPTA’s Regional Rail & Norristown High Speed Line. Search for an address on the heat map below to learn more about SEPTA’s positive impact in your community.
Catalytic Impact – King of Prussia Rail Project
King of Prussia Rail is a transformative project with the power to strengthen regional growth by extending the economic benefits of access to SEPTA’s rail network to the region’s third largest job center. KOP Rail will extend the existing Norristown High Speed Line into King of Prussia, providing a more frequent, reliable transit option for both commuters to King of Prussia and commuters traveling from King of Prussia and the western suburbs to Philadelphia. Improved transit service will better link the region’s three largest employment hubs, increase regional mobility, and help reduce congestion. As demonstrated by the results of the 2018 SEPTA Economic Impact Report, KOP Rail will bring an array of economic benefits for residents, businesses and commuters.