Economic Impacts of High-Speed Rail on Cities
The U.S. Conference of Mayors has released a report prepared by the Economic Development Research Group and sponsored by Siemens that details "The Economic Impacts of High-Speed Rail on Cities and their Metropolitan Areas."
Using Los Angeles, Calif.; Chicago, Ill.; Orlando, Fla.; and Albany, N.Y., as representative metropolitan areas impacted by planned high-speed rail, the report found that the introduction of high-speed rail services would significantly increase jobs, wages, business sales and value-added Gross Regional Product.
Among the findings:
- High-speed rail in Los Angeles could generate as much as $7.6 billion a year in new business sales, producing up to 55,000 new jobs and $3 billion in new wages.
- Chicago could see as much as $6.1 billion a year in new business sales, producing up to 42,000 jobs and $2.5 billion in new wages.
- As much as $2.9 billion a year in new business sales would arrive with high-speed rail in Orlando, producing up to 27,500 jobs and $1.2 billion in new wages.
- High-speed rail to Albany would bring as much as $2.5 billion a year in new business sales, producing up to 21,000 jobs and $1.1 billion in new wages.
For more information, visit the U.S. Conference of Mayor's High-Speed Rail webpage.