The American Public Transportation Association (APTA) released a report detailing the enormous impact high-speed and intercity passenger rail projects will have in driving job development, while also rebuilding America’s manufacturing sector and generating billions of dollars in business sales.
The report, “The Case for Business Investment in High-Speed and Intercity Passenger Rail,” reinforces the point that investments in high-speed and intercity rail will have many direct and indirect benefits. Nationally, due to proposed federal investment of high-speed rail over a six-year period, investment can result in supporting and creating more than 1.3 million jobs, APTA says.
For each $1 billion invested in high-speed rail projects, the analysis predicts the support and creation of 24,000 jobs.In addition to the thousands of new construction jobs, investments in high-speed rail will jumpstart the U.S. economy. The Economic Development Research Group for the U.S. Conference of Mayors studied the business impact of high-speed rail investment in different urban regions. For example, in Los Angeles, high-speed rail investment generates $7.6 billion in business sales and $6.1 billion in Chicago.