Economics Professor Lawrence Boyd of the University of Hawaii – West Oahu writes in Hawaii Business magazine this month that rail transit can play a significant role in the state’s economic recovery.
He forecasts the direct economic impact of the project’s construction activity at $160 million this year, rising dramatically to $600 million in 2010 and more than $1 billion in 2011.
Combining the direct, indirect and induced economic impacts, Boyd says the project’s total boost to Hawaii's economy will be $307.2 million this year, $1.2 billion in 2010 and $2.1billion in 2011.
The President Again
President Obama had some good things to say yesterday about expanding transit in America. Today, he might as well have been talking about Oahu road commuters when he spoke in Northern Virginia on passage of the federal stimulus package:
And so do residents of the President’s home state. We continue to show an October 2008 traffic tie-up on the H-1 freeway in this blog’s left column because it speaks so clearly to Oahu commuters. Each of us has had our cross-town car trips interrupted by accidents, overhead bridge failures, water main breaks, etc.
Honolulu’s rail project will avoid those inevitable delays by separating the commuter from surface traffic. That’s just one of many good reasons to embrace this project – reasons this blog will discuss in depth as we count down the months to the project’s scheduled groundbreaking late this year.