The basic premise is that if you make it a place that people want to ride bicycles and walk and hang out you will attract people and make money. The full article is here:
There IS a Bicycle Economy, Two Cities Find
for the record the article is written by A.K. Streeter for Treehugger.com and pointed out to me by the local Bicycle Preacher!Here's another version with a little bigger write up I just found:
How Bicycling Creates Economic Impact: A Tale of Two Cities
Protected bike lanes in New York have boosted local businesses