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The State Road Transit Authority (SRTA) currently provides a monthly cash incentive of $375 per vanpool, an increase that took effect at the beginning of 2016. “SRTA increased the incentive in order to increase participation in this cost-effective form of public transportation,” said Parker Martin, Performance Analyst with SRTA.
Previously, the incentive was $20 per seat ($140 for a seven passenger vanpool). The new rate of $375 means that each rider in a seven passenger van will now receive $54 per month towards the cost of the vanpool. Vanpool costs vary based on the number of people in the pool and the distance driven. Including incentives, the monthly out of pocket cost for a vanpool can be around $100.
This financial incentive is available to all vanpool groups who maintain at least 50% occupancy and operate more than 14 calendar days in a month.
Factoring in the cost savings in gas, parking and personal auto insurance, joining a vanpool can save several thousand dollars a year in commute costs. You can see your estimated savings with this interactive calculator.
Ready to give vanpooling a try? Visit Perimeter Connects to get started.