Lyft added $122M to the DMV economy in 2018, report says

Lyft reported that its ridesharing services helped add $122 million to the DMV economy in 2018 in its annual Economic Impact Report. A full look at the data that the ridesharing company is releasing for the District can be found here.

In the past year, Lyft has launched various initiatives specifically in the District including a partnership with WMATA, expanding e-scooters to Arlington, unveiling Lyft Bikes, a partnership with Martha’s Table for the Grocery Access Program, and more. The ridesharing company also reported $37 million in economic impact in Baltimore in 2018, our sister site Technical.ly Baltimore reported.

“Every day, people are using Lyft in D.C. as a way to connect with their community, support local businesses, and commute more efficiently. This is having a dramatic and real impact on our city by enabling riders to move around seamlessly and drivers to earn on their own time,” Steve Taylor, Lyft’s regional general manager, said in a statement. “As Lyft works to better knit together North American cities, including through bikes and scooters, we hope to continue to find new ways to invest in the local D.C. economy.”

The ridesharing company’s report also detailed the following stats on its drivers and riders in the DMV:

• 29 percent of riders spend more at local businesses as a result of using Lyft
• 55 percent of riders explore more areas of their city as a result of using Lyft
• 90 percent of Lyft drivers drive fewer than 20 hours per week (despite these hard working entrepreneurs who competed in Lyft’s inaugural pitch competition)
• 75 percent of drivers identify with a minority group
• 32 percent of riders are more likely to attend community events as a result of using Lyft.