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GreenDividend 
GreenDividend 
Joseph Cortright, Impresa 
September 2007 
Cities facilitate less driving, saving money and ...
GreenDividend 
20.3 
24.3 
Total savings per year 
$2.6B 
Median commute miles per day for 33 most populous US metro areas...
GreenDividend 
Does being green pay? 
Is conservation just noble self-sacrifice; • well-intentioned but un-economic? 
Or d...
GreenDividend 
Green Portland 
One of the nation’s greenest cities• 
City policy to limit greenhouse gases• 
Land use and ...
GreenDividend 
Metropolitan VMT Per Capita, Per Day 
Key Measure: Vehicle Miles Traveled 
01020304050PortlandMedian 
Sourc...
GreenDividend 
Monetary Savings 
Portland: 20.3 miles per person per day• 
Median Large City in US: 24.3 miles• 
Annual sa...
GreenDividend 
Time Savings 
Travel 2.8 billion fewer person miles per year• 
(2.2 million people * 365 days * 4 miles)• 
...
GreenDividend 
Corroborating Evidence 
Consumer Spending• 
Vehicle Purchases• 
Gasoline Sales•
GreenDividend 
Portland spend less on transportation 
0%5%10%15%20%25% 
(Source: Impresa analysis of Department of Labor d...
GreenDividend 
Portland residents buy fewer new cars 
(Source: Impresa analysis of National Automobile Dealers Association...
GreenDividend 
Portland residents buy less gasoline 
(Source: Impresa analysis of Energy Information Administration data) ...
GreenDividend 
How Portland does it 
More Compact Development• 
-Urban Growth Boundary 
-Less Sprawl 
Alternatives to Auto...
GreenDividend 
Compact Land Use 
Portland’s • Urban Growth Boundary 
Limits on • exclusionary zoning
GreenDividend 
024681012Portland--Salem, OR--WA CM 
Portland’s jobs sprawl less than most US metros 
Job Sprawl Index: 
Ra...
GreenDividend 
Less Economic Segregation 
Economic Segregation Index: 
(Percent of High income households that would have ...
GreenDividend 
Portland residents ride transit more 
(Source: American Community Survey, 2005) 
Portland 13.3% Commute by ...
GreenDividend 
Portland residents seven times as likely to bicycle to work 
(Source: Census Bureau, American Community Sur...
GreenDividend 
Most Hybrids Per Capita 
024681012Portland, ORSan Francisco, Monterey, CASanta Barbara, Los AngelesBend, OR...
GreenDividend 
Happier Citizen Commuters 
(Source: Impresa analysis of Riley Research survey data) 
Portland 60% rate tran...
GreenDividend 
More Local Spending 
Spending on cars and fuel leaves the • regional economy 
Other spending has less leaka...
GreenDividend 
And, yes, Lower Carbon Emissions 
2 million people drive 4 miles less per day, • yielding 8 million fewer m...
GreenDividend 
Next Steps 
Apply to Other Cities• 
Identify Possible Gains• 
Quantify Local Economic Impacts•
GreenDividend 
For More Information 
Joseph Cortright, Impresa• 
jcortright@impresaconsulting.com• 
Ceosforcities.org•
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Portland's Green Dividend

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Joe Cortright, Vice President/Economist, Impresa, Inc.

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Portland's Green Dividend

  1. 1. GreenDividend GreenDividend Joseph Cortright, Impresa September 2007 Cities facilitate less driving, saving money and stimulating the local economy
  2. 2. GreenDividend 20.3 24.3 Total savings per year $2.6B Median commute miles per day for 33 most populous US metro areas Average daily miles for Portland area commute $15 per hour $1.5B 100 million hours less traveled per year saves Estimated value of time spent commuting 2.9 B $1.1B Miles saved compared to median Transportation costs saved compared to median How urban form and transit enable people to drive less, saving money that gets spent locally, helping foster urban economic growth Portland’sGreen Dividend
  3. 3. GreenDividend Does being green pay? Is conservation just noble self-sacrifice; • well-intentioned but un-economic? Or does it make a difference to the local • economy?
  4. 4. GreenDividend Green Portland One of the nation’s greenest cities• City policy to limit greenhouse gases• Land use and transportation policies• -Higher density -Transportation alternatives -Housing choices
  5. 5. GreenDividend Metropolitan VMT Per Capita, Per Day Key Measure: Vehicle Miles Traveled 01020304050PortlandMedian Source: U.S. Department of Transportation
  6. 6. GreenDividend Monetary Savings Portland: 20.3 miles per person per day• Median Large City in US: 24.3 miles• Annual savings to Portland area: -4.0 fewer miles x -365 days x -2.0 million metro population
  7. 7. GreenDividend Time Savings Travel 2.8 billion fewer person miles per year• (2.2 million people * 365 days * 4 miles)• Value of travel time estimated at $15/hour• Savings in travel time• -100 million hours (at 27 miles per hour) -Value of time saved: $1.5 billion
  8. 8. GreenDividend Corroborating Evidence Consumer Spending• Vehicle Purchases• Gasoline Sales•
  9. 9. GreenDividend Portland spend less on transportation 0%5%10%15%20%25% (Source: Impresa analysis of Department of Labor data) Portland15.1% of consumer expenditures Average of 26 Largest Metro Areas 19.1% of consumer expenditures
  10. 10. GreenDividend Portland residents buy fewer new cars (Source: Impresa analysis of National Automobile Dealers Association data) Oregon 46 Vehicles per 1,000 Population United States 55 Vehicles per 1,000 population 0102030405060
  11. 11. GreenDividend Portland residents buy less gasoline (Source: Impresa analysis of Energy Information Administration data) Oregon 53.5 million BTU per capita United States 59.6 million BTU per capita 020406080
  12. 12. GreenDividend How Portland does it More Compact Development• -Urban Growth Boundary -Less Sprawl Alternatives to Auto Travel• -Transit -Bicycling Personal Choices•
  13. 13. GreenDividend Compact Land Use Portland’s • Urban Growth Boundary Limits on • exclusionary zoning
  14. 14. GreenDividend 024681012Portland--Salem, OR--WA CM Portland’s jobs sprawl less than most US metros Job Sprawl Index: Ratio of Jobs 10 to 25 miles From CBD to Jobs less than 3 miles from CBD (Source: Impresa calculations from County Business Pattern data)
  15. 15. GreenDividend Less Economic Segregation Economic Segregation Index: (Percent of High income households that would have to move to balance high and low income households to regional average in each neighborhood) Source: Lewis Mumford Institute) 020406080100Portland-Vancouver, OR-WA PMSA
  16. 16. GreenDividend Portland residents ride transit more (Source: American Community Survey, 2005) Portland 13.3% Commute by Transit United States 6.5% Commute by Transit 0%5%10%15%
  17. 17. GreenDividend Portland residents seven times as likely to bicycle to work (Source: Census Bureau, American Community Survey, 2005) Portland 3.5% of commuters bicycle to work Average for Cities of 85,000 plus 0.4% of commuters bicycle to work 0%1%2%3%4%
  18. 18. GreenDividend Most Hybrids Per Capita 024681012Portland, ORSan Francisco, Monterey, CASanta Barbara, Los AngelesBend, ORWashington, DCSan DiegoCharlottesville, VAEugeneSeattleHonoluluEurekaSacramentoDenver Source: http://www.hybridcars.com/market- dashboard/feb07-regional.html Hybrids per 1,000 Households, 2006
  19. 19. GreenDividend Happier Citizen Commuters (Source: Impresa analysis of Riley Research survey data) Portland 60% rate transportation system “good or excellent” Average of Metro Areas 35% rate transportation system “good or excellent” 0%20%40%60%80%
  20. 20. GreenDividend More Local Spending Spending on cars and fuel leaves the • regional economy Other spending has less leakage• $1 billion in additional local purchasing • power for all other industries
  21. 21. GreenDividend And, yes, Lower Carbon Emissions 2 million people drive 4 miles less per day, • yielding 8 million fewer miles per day At 20 miles per gallon, that saves 400,000 • gallons of gas At 19.4 pounds of CO2 emitted per gallon, • 365 days a year that saves 1.4 million tons per year•
  22. 22. GreenDividend Next Steps Apply to Other Cities• Identify Possible Gains• Quantify Local Economic Impacts•
  23. 23. GreenDividend For More Information Joseph Cortright, Impresa• jcortright@impresaconsulting.com• Ceosforcities.org•

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