Bicycling in the United States is a $6 billion national industry and one study estimates that the spillover effects of recreational bicycling alone could be as large as $133 billion. But that’s just the beginning, barely scratching the surface of the economic impact of transportation bicycling in communities across North America.
In 2010, after garnering support from city officials and surrounding businesses, Livable Memphis and the Broad Avenue Arts District rolled out the idea in a dramatic way. They painted temporary bike lanes and crosswalks and invited the community to “A New Face for an Old Broad,” a celebration, complete with live music, street vendors and a kids’ bike parade down the freshly striped cycle track.
“Until then, the area had been doing art walks once a year and, at best, those were bringing in 1,000 people,” Brown said. “Our goal for this day-and-a-half event, where the street itself would be a sort of theatrical performance, was maybe 5,000 people. We had 15,000 show up. The energy level was incredible. It was a huge tipping point for us – it changed the trajectory of the revitalization efforts.”
The energy didn’t wane once the event was over and bicyclists started taking advantage of the temporary lanes. Since then, the promise of permanent facilities has drawn more than $6 million in private investment. More than 15 new businesses have opened and nearly 30 properties have been renovated. Traffic has slowed, new customers are arriving on two wheels and, suddenly, the rock-bottom neighborhood is one of the hottest spots in town.