2. ECONOMIC BENEFITS
The Stitch creates $9 billion in economic value for Atlanta. 314
Federal funding invested in the Stitch $171 Million
Estimated jobs supported 2,000 – 4,200 / year
Estimated new development Downtown 18 million square feet
Estimated new affordable housing units 4,800
Projected Increase in Property Values within 1/2 mile of the Stitch: 7.5% – 15%
Projected increase in City and County property tax revenues: Up to $61 million per year (in 2024 dollars)
The resultant private investment is at a similar scale as that along the Beltline, 315 but at around 1/5 of the construction cost. 316
The Stitch is a generational public and private investment in Atlanta that is projected to generate substantial and far-reaching economic benefits for Downtown and Midtown and produce sizable spillover effects across the city and the region. • One Time: The Stitch will generate approximately $7 billion (in 2024 dollars) in total construction-related economic output, delivered in the next two decades, from the grants-funded project and subsequent real estate development adjacent to the Stitch, generating more than 37,000 jobs . o The construction of the Stitch is estimated to generate $1.4 billion in total economic output (2026-2036), generating 4,500 jobs. o The construction of new real estate development around the Stitch is estimated to generate $8.6 billion in total economic output (2026-2044), generating 33,000 jobs. • Permanent: The Stitch and its adjacent new real estate developments are estimated to support $410 million per year (in 2024 dollars) in permanent
314 $9 billion is the net present value of estimated economic output associated with The Stitch over a 30-year period.
315 https://www.fhwa.dot.gov/ipd/project_profiles/ga_atlanta_beltline.aspx 316 https://beltline.org/learn/progress-planning/research-reports/funding/
K-46
Made with FlippingBook Ebook Creator