In 2007, in an effort to quantify the potential economic benefits of the project, Walkway Over the Hudson commissioned the economic development firm, Camoin Associates of Saratoga Spring, New York, to conduct an economic and fiscal impact study. In sum, the results of this study were overwhelmingly positive.
Camoin Associates estimated that the bridge would have an annual usage rate of 267,700 visits per year. Of those visits, it was expected 157,700 would be from local residents and 110,000 visits would be generated from non-local visitors. All visits were expected to generate approximately $14.6 million in direct spending, which in turn would result in a total economic impact of $21 million in indirect annual spending in the regional and state economies. This spending would result in $727,400 new annual tax revenues to Dutchess and Ulster counties and $604,900 to New York State. In all, $1.3 million of new annual tax revenues would be created if visitation was as predicted.
The Walkway organization is pleased to report that in its first year of operation, the bridge received over 780,000 visitors - far exceeding the original estimate of 267,700.
View full Camoin Associates Report.
A follow-up study by Camoin Associates is now underway to evaluate the actual impact of the Walkway and results will be posted here when complete.
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