I-GO Car Sharing: Already a Public Offering
CHICAGO (April 13, 2011)—I-GO Car Sharing, Chicago’s first and only non-profit car-sharing organization, has formally announced its long-time status as a community-based “public offering.” I-GO went public at its inception in 2002, providing the public a convenient, affordable transportation alternative to auto-ownership. I-GO views itself as an extension of the public transit system, and it is the only car sharing organization in North America that has partnered with a local transit authority to offer a smart card that gives its 15,000 members access to both transit and car sharing vehicles.
“We provide an important public service that enhances mobility options while creating sustainable communities,” said Sharon Feigon, CEO of I-GO, an affiliate of the 32-year old Chicago-based Center for Neighborhood Technology. “We have nothing against Wall Street; we’re just more focused on places like Broadway and Lawrence and 53rd and South Lake Park.”
A typical I-GO member spends about $2,500 per year on transportation, roughly $5,000 less than the annual cost of owning a car. I-GO has more than 200 cars in 35 neighborhoods throughout the city and four suburbs that get users where they need to go without worrying about today’s escalating gas prices. Members pay for cars by the hour (about $8.50), and gas is included in the hourly fee (as is insurance).
I-GO is committed to pushing the car sharing industry to be as sustainable as possible. I-GO’s cars are all fuel efficient, and the organization will soon add roughly 30 electric cars to its fleet that don’t use gasoline at all. This spring, I-GO will install 15 solar canopies to power its electric vehicles with emissions-free electricity.
To speak to I-GO CEO Sharon Feigon about I-GO or other car sharing businesses that are going public, contact Emily Robinson at erobinson@cnt.org or 773.269.4043.
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