The proposed 5.2 mile Licking River Greenway and Trails initiative could create up to 272 jobs and have an economic impact of $33.9 million, according to a study released by the Center for Economic Analysis and Development (CEAD) at Northern Kentucky University. The study was commissioned to evaluate the economic impact of the proposed $18.1 million investment in improving the Licking River Corridor.
The greenway and trails will extend from the Licking River's confluence with the Ohio to the I-275 interchange, traveling through Covington, Newport, Wilder and Taylor Mill along the way.
The estimated $33.9 million impact includes both the direct and indirect benefits of the project, as well as the impact of the wages that construction workers would earn. The study concluded that the direct effects would be creation of 164 jobs and $18.1 million in industry output, and the indirect impact would create an additional 108 jobs and $15.8 million in output. The report also makes a strong case for the likelihood of property value increases in neighborhoods nearby. These figures do not include potential tourism dollars generated by the project. All figures are in 2010 dollars.
Please visit the
website to read the full pdf version of the report.