"High-Speed Rail Will Spur Growth in Hub Cities, Says Mayors Report"

"Billions of dollars of new business and tens of thousands of jobs will flow to four hub cities -- Los Angeles, Chicago, Orlando and Albany, N.Y. -- where plans for major high-speed rail networks are located, according to the U.S. Conference of Mayors.

Their report, released in Oklahoma City today, is the first attempt to put numbers on the widely held belief that high-speed rail can stimulate local economies and act as a driver of growth. The Obama administration has invested $8 billion in federal stimulus money to create 13 high-speed rail corridors.

The benefits of traveling between 110 and 220 miles per hour will mean better connectivity, shorter travel times and new development around train stations, according to the report. The changes will create 150,000 new jobs and some $19 billion in new businesses by 2035."

Gayathri Vaidyanathan reports for Greenwire June 14, 2010.

Source: Greenwire, 06/15/2010