Lyft reports double the economic impact in Baltimore for 2017 - Technical.ly Baltimore

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Jan. 17, 2018 11:17 am

Lyft reports double the economic impact in Baltimore for 2017

Ridesharing through the service resulted in a $25 million contribution to the local economic impact in the area, according to study results released by Lyft.

Grab a Lyft.

(Courtesy photo)

A new report released by Lyft reported double the economic impact in Baltimore in 2017 when compared with 2016.

According to the study from the Land Econ Group, Lyft contributed $25 million in spending to the local economy last year. The ridesharing company reported a $12.3 million impact in 2016.

It seems directly correlated with the amount of rides the company is providing.

“The main reason the economic impact doubled is that more than twice as many Lyft rides are happening now compared to a year ago,” said Mike Heslin, Lyft’s Market Manager for Baltimore. (The company doesn’t release exact numbers). “That means twice as many trips to local businesses, twice as much earning opportunity for drivers, twice as much time saved.”

The report comes as Lyft has increased its presence in Baltimore, setting up a local operations office and seeking out partnerships with the business community over the last two years. The company entered the city in 2013. Heslin previously told us a big growth spurt came in 2016, when the company saw 8x growth. That led to the decision to set up shop for the long haul.

Along with measuring spending, the report also sought to study the behavior of drivers. Most (97 percent) drive for less than 20 hours a week. Still, 73 percent are “primary earners” for their household, while 48 percent say the money they earn helps cover “primary” expenses.

Heslin has talked about how Lyft can work as part of the local transportation system, and the study shows how Lyft interacts with public transit. For instance, 39 percent of passengers use Lyft when public transit isn’t operating, while 25 percent of passengers use it to connect with public transit.

Lyft completed the report for 52 cities across the country. To find Baltimore’s full stats, go to the map at this site and find the fancy boat in the Mid-Atlantic.

Companies: Lyft
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