The financial cost of delays in the city’s subway system could be several hundred million dollars, according to a new analysis from Comptroller Scott Stringer.
He estimates transit breakdowns cost the city between $170 million and $390 million dollars a year, based on average delays of five and 20 minutes, with the most expensive delays happening on the 5, 7, A, F, and 4 trains.
“Whether it’s the A train or the 5 train, trains throughout our city, if we can’t move people, if we can’t move goods and services, then we can’t be the number one economy we are today,” Stringer said.
A spokesman for the MTA said the city’s economy “continues to grow and outpace the nation, which is due largely to our unparalleled mass transit network.”
Stringer called on the city to contribute to MTA Chairman Joe Lhota’s Subway Action Plan and on the state to approve a bond act for an infrastructure overhaul for the MTA.
The comptroller last focused on the impact of subway delays in July. He surveyed straphangers who reported lost wages — and even lost jobs — due to disruptions in their commutes.