Economic Development

eco_dev_opp_slide.jpgTrails and greenways have a well-established record of positively influencing community and economic development. For example:

  • Studies in Colorado and Ohio found that properties adjacent to a local greenway and trail were valued 22 percent and 12 percent, respectively, higher than properties farther away from those trails.
  • Trails in downtown Winter Garden, Fla., and Dunedin, Fla., are credited with helping drive up occupancy rates and revitalize the downtown areas.
  • A study of businesses along the Missouri River State Trail found that 20 percent of those surveyed cited the trail as influencing their decision to locate near to it.

A 2007 economic impact study for the proposed Carolina Thread Trail in Charlotte, NC studied positive impacts from property tax revenues, recreational value, and tourism activity, and it concluded that each $1 spent on trail development will produce an additional $10 in economic impact.

In addition to its economic benefits, there are other reasons to build the Greenway. It will be a powerful way to differentiate Greensboro and a great amenity that will provide residents, downtown workers and visitors new opportunities for exercise and recreation. However, given the experience of other communities with trails and greenways, it seems likely that the Downtown Greenway will increase property values, be a draw for businesses and residents to downtown Greensboro, and potentially boost retail sales.

For more on the economic impact of trails: