A professor at our very own University of Detroit Mercy has found even more proof of the enormous economic benefits of transit:
Transit spending increases income in a region because it provides transportation alternatives to poorer workers, it promotes development, and white collar workers do not waste time a in car but can get work done on the transit. Without transportation, many people are unable to find good paying employment because they are stuck in their own neighborhood. They become reliant on social services to provide them with income and services. Results suggest that for every dollar that is spent on transit, income in a region goes up by $8 to $9.
Reference: Link Between Transit Spending and Personal Income, A. Hoback, S. Anderson, Proceedings of 51st Transportation Research Forum, Arlington, VA, March 11-13, 2010.