Lyft generates $9.2 million for Pittsburgh’s economy in 2016

PITTSBURGH, PA — A new economic survey released today by Lyft reports the local lyft-seniorsPittsburgh economy will see an extra $9.2 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 Pittsburgh will save $2.6 million in travel time value and over 130,300 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 Pittsburgh. 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.

“People are going out more, staying out longer, and visiting areas of their city that weren’t easily accessible before Lyft,” said Peter Gigante, Lyft’s Head of Policy Research. “This has had a real impact on local businesses and economies, resulting in hundreds of millions of dollars spent by residents and visitors. Passengers also save both time and money when they can choose a Lyft ride as opposed to the hassle and expense of driving their personal vehicle.”

In Pittsburgh, the study also found:

  • 87% of drivers have given a ride to a neighbor
  • 86% of passengers are more likely to avoid drinking while intoxicated because of Lyft
  • 54% of passengers use their personal vehicle less because of Lyft
  • 24% of Lyft drivers own a small business and 80% of those use Lyft earnings to support their business
  • 36% of rides start in under-served areas

Additional information on Lyft’s 2017 Economic Impact Survey can be found here.

Categories: Automobiles, Business

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