TRENTON, N.J., Dec. 12, 2016 /PRNewswire/ -- A new economic survey released today by Lyft reports the local Trenton economy will see an extra $19.3 million in 2016 thanks to the availability of Lyft's affordable, convenient rides. Conducted by the Land Econ Group, the study also showed passengers in Trenton will save $18 million in travel time value and over 1 million travel hours this year alone because of Lyft.
"Based on survey results from tens of thousands of Lyft users, we found that Lyft creates a significant positive economic impact in each of the twenty metro regions we have studied," said Bill Lee, Senior Partner at Land Econ Group. "Passengers have responded to the significant time savings and enhanced mobility Lyft provides by visiting local businesses more often, staying out longer, and exploring new areas of their city that are otherwise difficult to reach."
The national survey examined over 20 Lyft markets across the country, including New Jersey. In 2016, local economies will see over $750 million in additional spending due to the availability of Lyft. Access to Lyft also meant that passengers saved over $500 million and 26 million travel hours compared to alternative transportation modes.
"The results of this study show the significant social and economic impact Lyft is having in New Jersey," said Ann Ferracane, Lyft's New Jersey General Manager. "55% of our passengers use Lyft to commute to and from work, the highest among the cities surveyed, and 20% of rides start in underserved areas. We look forward to continuing our work to ensure this growth prospers along with the happiness and safety of our community."
In Trenton, the study also found:
- 59% of passengers spend more at local businesses
- 57% of drivers use earnings from Lyft for their primary expenses
- 65% of passengers use their personal vehicle less because of Lyft
Additional information on Lyft's 2017 Economic Impact Survey can be found here.
Lyft was founded in June 2012 by Logan Green and John Zimmer to reconnect people and communities through better transportation. Lyft is the fastest growing rideshare company in the U.S and is available in more than 200 cities. Lyft is preferred by drivers and passengers for its safe and friendly experience, and its commitment to effecting positive change for the future of our cities.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lyft-generates-193-million-for-trentons-economy-in-2016-300376398.html