How bicycling helps a community's economic development

Bacon's Rebellion convened a group of Virginia cyclists who worked to summarize some of the economic impacts planning and building for bicycling has for a community:

Cycling stimulates tourism. As the 50-mile Virginia Capital Trail between Richmond and Williamsburg nears completion, cycling advocates contend that the trail will be an amenity that will draw visitors to the Richmond region. Many look to the example of the Virginia Creeper Trail near Abingdon and biking trails in other states, which have given rise to clusters of outfitters and restaurants. The traffic isn’t exactly in the same league as Las Vegas or Disney World, but bike trails do generate stays at hotels, B&Bs and nearby attractions. . . . 

Cycling trails and property values. Insofar as people regard cycling trails, bike-ped paths and bicycle lanes as desirable amenities, bicycle infrastructure enhances property values. Once upon a time, people paid a premium to live on a golf course, observed Jay Paul, an entrepreneur who has recently rolled out a line of cycling insurance. Today, he suggested people are more likely to pay a premium to live on a bike trail or bike-friendly street.

Investing in bicycle infrastructure can generate a payback for local governments in the form of higher property assessments and stronger tax revenue.

Cycling, place making and livability. Communities across the country are paying increasing attention to the art of “place making,” creating the kinds of places where people like to gather and interact. Great places, which locals cherish and out-of-towners come to visit, have many common elements, including a mix of residential, commercial and retail uses, walkable streets, cool public areas and, increasingly, bicycle access.

We've previously summarized the large economic impact bicycling as a whole and the Katy Trail in particular have on Missouri's economy.