Economic Impact Report Shows Lyft Riders Spend Additional $9.1M in Richmond

Ride-hailing company Lyft has released an annual Economic Impact Report that says riders in Richmond spent an additional $9.1M in the local community due to the availability of Lyft. The report indicates that companies like Lyft are increasingly helping create a seamless city living experience by ​making it easier for people to get around and experience Richmond. 

The report, which was prepared by Lyft, indicates that some of the benefits cities have seen from Lyft can be attributed to partnerships with Richmond Sports Backers and Venture Richmond, which have continued to help the Richmond community by providing affordable and reliable transportation options.   

“Every day, people are using Lyft in Richmond 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,” said Cabell Rosanelli, Richmond-area market manager for Lyft. “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 Richmond economy.”  

Richmond 2019 Economic Impact Report, prepared by Lyft, highlights include: 

●          Using Lyft, riders saved 618 thousand hours compared to other transportation modes –which translates to time savings valued at $17.5M, reports Lyft.

●          46% of riders explore more areas of their city as a result of using Lyft.

●          42% of riders spend more at local businesses as a result of using Lyft.

●          77% are less likely to drive substance impaired due to the availability of Lyft.

●          94% drive fewer than 20 hours per week.

●          54% of vehicle owners use their cars less because of Lyft.

●          34% of healthcare riders state that without Lyft they would be less likely to make it to their appointments regularly.

The full survey results for Richmond and all others can be found ​here, https://lyftimpact.com/stats/cities/richmond.

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