New York’s metro region loses more than $13 billion a year due to traffic congestion, according to a recent study.
The report, issued by the Partnership for New York City (PYNC), concluded that existing transportation and road systems are inadequate to accommodate the region’s growing population and continued economic expansion, resulting in the loss of as many as 52,000 new jobs every year.
The traffic problem will only grow as Manhattan-bound traffic moving through the region increases by more than 20% over the next two decades.
“The level of traffic congestion in New York City has now passed the tipping point and is causing serious damage to virtually every community and industry sector,” said PYNC President and CEO Kathryn S. Wylde.
While the PYNC report did not take a position on how to solve the congestion problem, it seeks to make the case for the city to obtain available federal aid to undertake a feasibility study of congestion-relief strategies.
Potential options that may be studied include: better design and management of freight loading facilities; improved regulation and increased pricing for on-street parking; new and upgraded bus, ferry and commuter rail services; and charges for vehicle use of certain roads and for entry into highly congested zones.