Overview of the U.S. Parking Industry

  • Conservatively estimated, generates more than $25-30 billion in gross parking revenues
  • Includes parking professionals and staff in the following sectors:
    • Academic (college/university, school)
    • Airport
    • Commercial Operations (private operators, shuttle services)
    • Consultants (architects, engineers, planners)
      o Corporate (building owners, developers, entertainment, resort, retail)
    • Hospital/Medical/Healthcare facilities
    • Public (city, economic development, municipality, public works, police, law enforcement)
    • Stadiums/Arenas/Convention Centers
    • Suppliers to the parking industry (equipment manufacturers, technology vendors and service providers)
  • According to the U.S. Census Bureau, it is estimated there are more than 105 million commercial parking spaces in this country. Parking experts differ widely on this figure with ranges from 100 million to 750 million.
  • In 2007 there were 136,000,000 passenger cars in the United States.  About 96 percent of the time, these vehicles are parked. (Source: Donald Shoup, "The High Cost of Free Parking," 2005)
  • The largest parking garage in the U.S. is the garage at Disneyland, Anaheim, California with 10,000 parking spaces.
  • The Mall of America has 17,000 parking spaces - in garages and lots.
  • Number of parking meters:  There are about 5 million parking meters (2004 Commercial Investment Real Estate March/April).  New York City has approximately 62,000 meters.
  • The parking meter was invented by Carl C. McGee in Oklahoma in 1935, in response to the vexing problem of traffic congestion in Oklahoma City.
  • The "Denver boot," which immobilizes vehicles whose owners have not paid their parking fines, was created in 1953 by inventor Frank Marugg. Marugg was a violinist with the Denver Symphony Orchestra and a friend to local Denver police, who asked Marugg to help them solve their parking enforcement problems.
  • The national median parking construction cost per space in 2010 is $16,167 and $48.54 per square foot. (Source:  IPI Member, Walker Consultants, "Industry Insights," May 2010)
  • When asked to rank the top three most important considerations when making a parking decision, the majority of respondents in a recent survey cited were cost (34 percent); security (29 percent ); and location (25 percent ) (Source:  IPI Member, Federal Signal: "Security, Cost Driving Most Parking Choices Across U.S.," 2010)

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