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Economic Development Ideas
Basically by adding some additional safety equipment to prevent cars from going around the gate arms, the trains no longer need to sound their horns. The Quiet Zones would help the businesses in...
Basically by adding some additional safety equipment to prevent cars from going around the gate arms, the trains no longer need to sound their horns. The Quiet Zones would help the businesses in various ways detailed in the proposal at https://sites.google.com/site/plymouthquietzone/ .
For most businesses (like most individuals) one of their largest assets is their property value. A property value study was conducted based on the same methodology that economists have used regarding train horn noise, using actual public record data. For the 1,545 residential and 291 commercial properties within 2,000 feet of the 7 crossings, there would be an estimated increase of approximately $36 million if Quiet Zones were implemented. This estimate does not include the well-studied fact that increased property values lead to increased perceived net worths, which increases disposable income…and business for nearby retail. More nearby residents with higher net worth means less need for parking.
Nov 24, 2013 by
Plymouth QuietZones (23 points)