Lyft generates $38.6 million for Philadelphia's economy in 2016

PHILADELPHIA, Dec. 12, 2016 /PRNewswire/ -- A new economic survey released today by Lyft reports the local Philadelphia economy will see an extra $38.6 million in 2016 thanks to the availability of Lyft's affordable, convenient rides. Conducted by the Land Econ Group, the study also showed passengers in Philadelphia will save $23.2 million in travel time value and over 1 million travel hours this year alone because of Lyft.

"Based on survey results from tens of thousands of Lyft users, we found that Lyft creates a significant positive economic impact in each of the twenty metro regions we have studied," said Bill Lee, Senior Partner at Land Econ Group. "Passengers have responded to the significant time savings and enhanced mobility Lyft provides by visiting local businesses more often, staying out longer, and exploring new areas of their city that are otherwise difficult to reach."

The national survey examined over 20 Lyft markets across the country, including Philadelphia. In 2016, local economies will see over $750 million in additional spending due to the availability of Lyft. Access to Lyft also meant that passengers saved over $500 million and 26 million travel hours compared to alternative transportation modes.

"Lyft is proud to be providing flexible economic opportunities for drivers, improving transportation access for passengers, and increasing economic activity in Philly," said Andrew Woolf, Lyft's Philadelphia General Manager. "This study also shows that ridesharing helps make Philly safer: 81% of passengers are more likely to avoid driving while intoxicated because of Lyft."

In Philadelphia, the study also found:

• 90% of Lyft drivers have given a ride to a neighbor
• 44% of Lyft drivers have had a lasting, positive, community connection (e.g. friendship or  business contact)
• 51% of passengers use their personal vehicle less because of Lyft
• 46% of rides start in underserved areas

Additional information on Lyft's 2017 Economic Impact Survey can be found here.

About Lyft
Lyft was founded in June 2012 by Logan Green and John Zimmer to reconnect people and communities through better transportation. Lyft is the fastest growing rideshare company in the U.S and is available in more than 200 cities. Lyft is preferred by drivers and passengers for its safe and friendly experience, and its commitment to effecting positive change for the future of our cities.

SOURCE Lyft

Related Links

https://www.lyft.com