Lyft has contributed nearly $40 million to Phoenix economy in 2016
Dec 16, 2016, 11:59 AM
This undated photo provided by Lyft shows an illuminated Lyft beacon. Ride-hailing service Lyft, the underdog rival to Uber, is getting rid of its iconic pink moustache logo and replacing it with something more useful: a beacon. (Lyft via AP)
(Lyft via AP)
PHOENIX — Lyft might be the second app you hear named after Uber when it comes to getting a ride somewhere, but its impact in the Valley is undeniable, according to one report.
Lyft’s economic impact report says the popular ride-sharing service contributed $39.6 million to the Phoenix economy in 2016.
The app saved $18.6 million in travel time value for passengers in the Valley, according to the study done by Land Econ Group.
The company, which launched in June 2012, set up an office in Phoenix earlier this year. They recently underwent a makeover for their look, which includes a new logo and light-up beacons.
Lyft has benefitted greatly from updates to the ground transportation policy, allowing the service to be used at airports such as Sky Harbor International Airport and Phoenix-Mesa Gateway Airport.
