OAKLAND, Calif. _ A study released Friday said the Oakland A's proposed gondola system would generate more than half a billion dollars in economic benefits over its first decade in service.
The Bay Area Council Economic Institute study found an aerial transit system connecting downtown Oakland to Jack London Square will bring $685 million in benefits to Oakland, most of which would be derived from sales tax.
"A gondola provides a unique and important transportation solution for better connecting Oakland's growing downtown and waterfront," Jeff Bellisario, vice president of the Bay Area Council Economic Institute and lead author of the analysis, said in a statement. "A gondola can serve as a major magnet for economic development, support the Oakland A's exciting vision for a waterfront ballpark, attract tourists and other visitors and reduce commute times for thousands of workers."
The tram would run above Washington Street, between the Marriott City Center near the 12th Street BART station and Jack London Square near the proposed ballpark at Howard Terminal. It would cross above busy Interstate 880 and the Union Pacific railroad tracks that run along the Embarcadero, and an aerial walkway that links Oakland Police department headquarters to the Wiley W. Manuel Courthouse at the intersection with Seventh Street. In addition to logistics and cost, it would need approval from Caltrans, Union Pacific and likely many other agencies.
According to the analysis, the gondola would bring an extra 50,000 visitors a year and about 1 million riders, bringing $403 million in increased sales tax, $265 million from building and operating the system and $17 million in savings from shorter commute times. The half-mile trip is expected to take between three to four minutes and the system could support 46 full-time jobs, the study said.
"The biggest benefit that the gondola will bring to the City of Oakland is more people," according to the study. "Not only will the initial novelty of the gondola supplement attendance at A's games with those that may have otherwise not attended, the gondola has the long-term potential to push people from around the region to visit Oakland more often."
Oakland Mayor Libby Schaaf said previously that she was excited about the gondola, and said it could be an attraction that would bring visitors to Oakland aside from fans heading to and from a ballpark. A's President Dave Kaval on Wednesday remained committed to the idea. The team estimates construction costs of the line and two stations to be $123 million.
The Bay Area Council Economic Institute is a think tank focused on economic and policy issues in the region.
