Report: CU transit generates $48M in annual economic impact

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City Utilities of Springfield's transit service generates tens of millions of dollars annually in economic impact, according to a new report.

The Economic Impact of Public Transit in Missouri report puts the economic impact annual total at $48.3 million for CU transit, according to a news release. The report was prepared by Saint Louis University for the Missouri Public Transit Association and Citizens for Modern Transit.

“I believe this helps tell the story of the value of public transportation in Springfield," said Matt Crawford, CU director of transit, in the release. "This insight is crucial as we make decisions regarding our service in the near future.”

The economic impact figure for CU transit takes multiple factors into account, including capital expenditures by CU and annual consumer spending that's attributed to their transit rides.

CU transit employs 65 people and provides more than 1 million rides per year, according to the release. Direct annual spending of those riders is $7.9 million, with another $12.1 million attributable to their indirect spending, the report indicates.

The economic impact of transit statewide is estimated at roughly $4.05 billion.