This might increase the amount of people biking to work, although there are likely a great deal of other factors that come into play, such as distance of commute, weather, availability of a bike, laziness, need to conduct other errands after/before work, etc.
There may also need to be another incentive for that to work. For instance, many companies in New York subsidize public transportation by giving a discount or paying for Metrocards to get on buses and subways. Perhaps more people would try to bike if companies offered some type of benefit to people who biked, like shorter hours to accommodate travel time, a bicycle subsidy, or a bonus. This is also assuming that there is a path or rode that is bicycle-friendly that workers can easily take.
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