Partnership for NYC: Congestion Costs New York More Today Than It Did 10 Years Ago

Traffic is getting worse while people's time grows more valuable.

Image: Partnership for New York City
Image: Partnership for New York City

Traffic congestion is a major drag on the city’s economy, costing the metro area a projected $20 billion a year for the next five years, according to a report commissioned by the Partnership for New York City, which represents large private sector employers.

That’s significantly more than the estimated costs of traffic congestion in December, 2006, when the Partnership estimated the annual loss at $15.9 billion in today’s dollars.

A new fact sheet released by the Partnership says that, without congestion pricing to thin out traffic, commuters in the five boroughs and surrounding counties will lose the equivalent of $9 billion annually in travel time.

Businesses stand to lose nearly $6 billion in revenue and $2.4 billion in increased operating costs a year, according to the Partnership, and the region will lose $2.5 billion to excess fuel and vehicle operating costs.

The Partnership prepared a similar report ahead of Mayor Michael Bloomberg’s congestion pricing plan, which was smothered behind closed doors 10 years ago by Assembly Democrats led by former speaker Shelly Silver.

At the time, the Partnership estimated that traffic congestion cost the region $13 billion annually, or $15.9 billion adjusting for inflation.

Since then, traffic has gotten worse while people’s time has grown more valuable. “The cost of excess congestion has grown more rapidly than inflation primarily due to increased time spent commuting and for work-related travel, increased wages, and increased operating costs overall,” a spokesperson said via email.

Governor Cuomo is expected to unveil his congestion pricing proposal tomorrow. The governor’s statements about the content of the plan so far have been highly ambiguous and subject to interpretation.

Meanwhile, as the transit system collapses and the city he runs chokes on gridlock, Bill de Blasio is basically talking to himself.

ALSO ON STREETSBLOG

New York Can’t Afford to Put Off the Move NY Plan Any Longer

|
During the Bloomberg era, there was no bigger backer of congestion pricing than Kathryn Wylde, director of the Partnership for New York City, a downtown business group. Wylde, a confidante of Mayor Bloomberg, spearheaded the Partnership’s 2006 Growth or Gridlock report that provided both quantitative firepower and political cover for the mayor’s congestion pricing proposal […]

Responses to $354 Million Federal Congestion Pricing Grant

|
Here are two initial responses to this morning’s news that the US DOT will grant New York City $354 million to implement Mayor Bloomberg’s congestion pricing plan: Walter McCaffrey, right, a former city councilman from Queens who has been coordinating opposition to the mayor’s plan on behalf of the Queens Chamber of Commerce, The Automobile […]

John Liu Says He Supports Congestion Pricing

|
Some actual news came out of this morning’s congestion pricing forum with London Deputy Mayor Nicky Gavron, the one event that Streetsblog’s reporting team decided to skip this week. Queens City Council Member John Liu publicly stated that he supports congestion pricing. New York Times reporter Sewell Chan reports for the EmpireZone blog: Mr. Liu, […]

Lew Fidler’s “9 CARAT STONE” Traffic Plan Arrives

|
On Saturday we received the following mysterious e-mail in the Streetsblog tips box: Subject: Plan to be Revealed to go up against Mayor’s Congestion Pricing A major announcement will soon be made that will reveal a whole new plan for how NYC will handle traffic congestion, mass transit, air pollution and land re-development.  A plan […]