Follow this blog:
RSS

Citi commits $42 million to New York’s bike sharing program

By | June 25, 2012, 5:00 AM PDT

There are advertisements plastered over virtually every edifice, structure or public transit vehicle these days, so why should a portable bike station be any different?

When the New York City bicycle sharing program officially kicks off in July, New Yorkers will see financial services giant Citi’s name on virtually every street corner. That’s because the company is putting roughly $42 million into sponsoring the rollout of the program over the next five years, according to a spokeswoman for the non-profit that’s running the program, Alta Bicycle Share.

Representatives for the bike sharing program were on hand last week during Citi’s tour of its 200th LEED-certified building, the Platinum-rated Union Square branch.

The program is meant to cover situations where the New York subway or bus transit system doesn’t quite manage to get a commuter from his or her residence to their place of employment. Close to 420 stations will be deployed in July, each of which will have about 15 bicycles, so the initial fleet will have about 7,000 bicycles. The Penn Station rack alone will support 150 bikes.

The Citi Bike’s representative on-hand in Union Square said participants will be able to purchase daily, weekly or annual memberships that give them the right to sign out bikes. (An annual membership in $95.) Participants receive a “key” that will enable them to unlock the bikes, which they can use for approximately 45 minutes. When he or she is done with the ride, the bike is locked up at the next station. The security and sign-out system works on solar energy; so each of the portable stations boasts solar panels.

The stations are being placed in areas of greatest demand; apparently, Alta has attended close to 200 boards meetings with the New York City Department of Transportation in preparation for the rollout this summer. If a station is being underutilized, it can be moved to a different location relatively easily. Alta will also run a rebalancing program to make sure stations aren’t empty.

Related stories:

New York City bike sharing: coming this summer

Start your week smarter with our weekly e-mail newsletter. It's your cheat sheet for good ideas. Get it.

Heather Clancy

About Heather Clancy

Heather Clancy is a contributing editor for SmartPlanet.

Heather Clancy

Heather Clancy

Contributing Editor

Heather Clancy has written for United Press International, ZDNet, Entrepreneur, Fortune Small Business, the International Herald Tribune and the New York Times. She holds a degree from McGill University. She is based in New Jersey.

Follow her on Twitter.

Heather Clancy

Heather Clancy

I am fascinated about how businesses of all sizes can transform their operations through technology -- not just to make themselves more efficient, but to rise above their competitors. That's the theme for my two ZDNet blogs, Small Business Matters and Next-Gen Partner. For SmartPlanet, I'm focused on profiling inspirational and controversial business leaders who have great leadership lessons to share. I also write regularly and passionately about corporate social responsibility and sustainability issues for GreenBiz.com.

Occasionally, I will pop up at an industry conference in some sort of speaking capacity. In cases where an engagement involves a sponsor that may be covered in this blog, that fact will be disclosed in coverage as appropriate.

My corporate writing work usually consists of crafting research white papers about some aspect of technology or moderating Webcasts. In the event that my commentary (in written, audio or video form) mentions a company for which I have provided consulting advice, I will disclose that fact. However, there is no connection between these projects and topics that I cover in my blogs.

She writes for SmartPlanet and is not an employee of CBS.

If you liked this, don't miss...
2
Comments

Join the conversation!

Follow via:
RSS
0 Votes
+ -
We have a moron for governor
This would never happen here in Georgia as most of the politicians are either corrupt or just dumb. They want more taxes so they can "fix" the existing roads!! The gasoline taxes are already high enough to meet the demand of repair the existing roads. But they think they can just ask for more money and pay one of their "kissing cousins" to "repair" the roads!!
Posted by usdoc1
25th Jun
0 Votes
+ -
Finally!
In other communities, i.e. Madison, Wisconson, Bikes that are abandoned or found and not recalled from the police department, are painted RED and are for public use, without charge as far as I believe. This cut down bicycle theft dramatically in that City. It is about time the USA actually cut through the red tape and expand it's vision of our cities! Congrats to Citi Group and NYC for starting to think "globally"so to speak! This works in many European Cities. I do hope that bicycle VECHICLE LAWS are enforced as many immigrants and young persons are not familiar with the RULES Of the ROAD as they apply to bicycles. If NYC needs more funds, all they need do is fine Jaywalkers and Backward Bike Riders. It is one thing to provide a need and another to positivly enforce the rules!
Posted by reslyn
25th Jun
Join the conversation
Formatting +
BB Codes - Note: HTML is not supported in forums
  • [b] Bold [/b]
  • [i] Italic [/i]
  • [u] Underline [/u]
  • [s] Strikethrough [/s]
  • [q] "Quote" [/q]
  • [ol][*] 1. Ordered List [/ol]
  • [ul][*] · Unordered List [/ul]
  • [pre] Preformat [/pre]
  • [quote] "Blockquote" [/quote]

Join the SmartPlanet community and join the conversation! Signing up is fast and free. Don't wait -- we want to hear your opinion!