Listen to the audio story:

—–

The downtown Los Angeles streetcar effort took a huge leap forward Tuesday. Results from a study show the new project will create thousands of jobs, more than a billion dollars in new development and millions more in revenue from tourism and consumer spending.

Los Angeles city council member Jose Huizar says these revenues will help benefit the city.

“With this streetcar, if you look at the numbers, in this economic time, how could we say no to this small investment that will bring so many jobs, economic development activity and connect all of downtown to make it a tourist destination, and also for Angelinos to enjoy?” Huizar said.

The $125 million project will run along a four-mile system, seven days a week for 18 hours a day. L.A. Live will serve as one of the anchor destinations for the streetcar.

AEG’s Tim Leiweke spoke about the streetcar plan’s overall importance to the city saying that, “this would be a vision that would connect all of downtown and suddenly give us an infrastructure so that we could go after every convention and every major event and bring it to downtown LA.”

The streetcar is expected to be ready for construction within five years.

More stories about public transportation:

Bus riders protest cuts to bus routes and services

Inglewood expands free trolley service

Unemployed call for MTA to speed up transit plans and create jobs