Buffalo and Rochester’s lack of ridesharing costs the cities tens of millions in lost economic activity and economic opportunities, according to new research.
The research, conducted by the Land Econ Group, and covered by Forbes, surveyed cities with and without ridesharing to better understand ridesharing’s economic impact.
The result: ridesharing unquestionably delivers economic benefits to communities where services like Lyft and Uber are available. But economists also found that a lack of ridesharing can be costly to communities.
They estimate that Buffalo loses $20.1 million every year in spending at bars, restaurants, and other retail and entertainment establishments. They found Rochester loses $19.3 million in that type of spending.
That’s not all. Buffalo residents could make a combined $9.5 million every year by driving with Lyft or Uber while those in Rochester could earn $8.7 million.
“Buffalo is the largest U.S. city without the major ridesharing companies. And the need for more work opportunities and economic growth is clear in upstate New York,” said Jared Meyer, the author of the Forbes article and senior research fellow at the Foundation for Government Accountability.
This new research underscores the need for the State Legislature to act to bring ridesharing to Buffalo, Rochester, and all of New York to boost the economy, fight drunk driving, and make it easier or more reliable for locals and visitors to get around.
“In 2017, there is no excuse for major cities to leave their residents without the work opportunities and transportation options that ridesharing provides,” added Meyer.