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June 15, 2010

US High-Speed Rail Will Boost State Revenues

Four US cities, Los Angeles, Chicago, Orlando and Albany in New York, will benefit from high-speed rail (HSR) with as much as $19bn in new business revenues by 2035, according to a report. The study released by the US Conference of Mayors showed that HSR projects can encourage higher

By cms admin

Four US cities, Los Angeles, Chicago, Orlando and Albany in New York, will benefit from high-speed rail (HSR) with as much as $19bn in new business revenues by 2035, according to a report.

The study released by the US Conference of Mayors showed that HSR projects can encourage higher-density, mixed-use development projects surrounding the stations in the four cities and create up to 150,000 new jobs.

The study also said that by 2035, HSR could add around $255m in the Orlando area, $147m in Los Angeles, $100m in the Albany-Saratoga area, and $42m in the Chicago area.

The HSR will also have a positive impact on the environment, with each rail car expected to remove as many as 200 vehicles from the road, and produce up to ten times less CO2 per rail trip than the equivalent number of road journeys.

The US Conference of Mayors report was prepared by the Massachusetts-based Economic Development Research Group and funded by railroad company Siemens AG.

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