Tuesday, June 17, 2014
Investment in Light Rail Program Helps Create Jobs, Stimulate Economy
A new light rail line--called the "Green Line"-- that connects the downtowns of Saint Paul and Minneapolis for the first time in decades is being hailed by the Ford Foundation as an example of how strategic public investments in transit and transit-oriented development can create jobs, stimulate local economies and foster more equitable and resilient communities.
In a post on the foundation’s website, Amy Kenyon, program officer for the Connecting People to Opportunity initiative, notes that “Ford was among the national and local funders who came together to create the Central Corridor Funders Collaborative, aimed at encouraging collaboration and investment ‘beyond the rail.’ It’s been a success by any measure: Since work on the Green Line began more than five years ago, developers have announced over $2.5 billion in new construction and redevelopment projects within a half-mile of the new train line."...