Daniel Arancibia of Toronto Cycling Think & Do Tank, prepared a report that:
“focuses on the economic impacts of cycling infrastructure and participation on local retailers and businesses in urban areas in North America, while accounting for the fact that bicycle lanes and other forms of infrastructure sometimes compete with on-street parking for space.”
In the executive summary, Arancibia concluded that:
“Bicycle infrastructure can bring very positive economic impacts to business communities in North American urban shopping strips. Today, North American urban cyclists are a desirable demographic for local businesses. They are skilled, selective, loyal, and spend more money where they shop than their driving counterparts. Cycling infrastructure is important to them, and therefore important for businesses who want to attract them (both as customers and as employees). Bicycle lanes and bicycle parking can increase the capacity of roads and the ability of people to shop simultaneously, all while improving various social and environmental aspects of a neighbourhood.
In walkable urban cores, bicycle infrastructure is likely to provide a bigger boost to local businesses than on-street parking, especially where off-street parking exists within the vicinity. North American retailers have a tendency to over-estimate car mode-share and under-estimate cycling mode-share among their customers. Further study of the impacts of combining on street parking and bicycle lanes would clarify best practices.”