WASHINGTON, D.C. — The American Public Transportation Association (APTA) released a report detailing what it calls an “enormous impact” that 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 focuses on key issues critical to private investors as they consider investments or future expansion into businesses serving the growing passenger rail markets.
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. According to APTA, this federal investment will be the catalyst for attracting state, local and private capital which will result in the support and creation of even more jobs.
According to the report, investments in building a 21st century rail system will not only lead to a large increase in construction jobs, but to the sustainable, long-term growth of new manufacturing and service jobs across the country.
“It is evident that investing in high-speed and intercity rail projects presents one of the clearest and fastest ways to create green, American jobs and spur long-term economic growth,” said APTA President William Millar. “Investing in high-speed rail is essential for America as we work to build a sustainable, modern transportation system that meets the environmental and energy challenges of the future.”
APTA noted 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, the APTA said, 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.