SIC Code 7521-05 - Park & Ride

The Park & Ride industry, classified under SIC Code 7521, involves the provision of parking facilities for commuters to park their vehicles and then transfer to public transportation, such as buses or trains, to complete their journey to work or other destinations. This industry is designed to reduce traffic congestion and promote the use of public transportation, making it an important part of urban transportation infrastructure. Park & Ride facilities are typically located on the outskirts of urban areas, near major highways or public transportation hubs. These facilities offer a range of parking options, from surface lots to multi-level garages, and are often equipped with security features such as cameras and lighting to ensure the safety of parked vehicles. The Park & Ride industry is an important component of sustainable transportation systems, as it encourages the use of public transportation and reduces the number of single-occupancy vehicles on the road. This industry also provides a convenient and cost-effective option for commuters, as parking fees at Park & Ride facilities are often lower than those in urban areas.