New economic data shows the California high-speed rail project generates nearly USD 22 billion in total economic activity through a USD 13 billion investment, new economic data shows. In the Central Valley region alone, about USD 9.6 billion in economic activity has benefited the region and its workers.
“The benefits of investing in a high-speed rail system continue to ripple through the California economy. This project is creating meaningful partnerships and jobs, lifting up disadvantaged communities and supporting greenhouse gas reduction goals,” Jamey Matalka, the Authority Chief Financial Officer said.
90% of the project’s 2023-24 fiscal year expenditures have gone to California businesses and workers, with two out of every three dollars going to disadvantaged communities, driving substantial economic activity in these areas.
The California high-speed rail authority estimates the project has created approximately 109,000 job-years of employment, spurring more than USD 8 billion in total labor income earned by workers on the project and nearly USD 22 billion in total economic activity.
A job-year is defined as the equivalent of a full-time job for one year.
The authority is expected that with the completion of the 275 km Merced – Bakersfield section initial passenger service would, in addition to cutting existing trip times in half, add to these numbers, resulting in a total of 333,000 job-years of employment and total economic activity of USD 70.3 billion.
Construction progresses every day on the California high-speed rail project. There are currently 275 km under design and construction from Merced to Bakersfield. More than 96.5 km of guideway is completed and, of the 93 structures needed, 50 are complete and more than 25 are under construction between Madera, Fresno, Kings, Tulare and Kern counties.
Estimates show the 795 km California high-speed rail project comprises the construction of the first phase between San Francisco to Los Angeles/Anaheim, via the underway Central Valley section, would cumulatively create a total of 1,034,000 job-years of employment, and total economic activity of USD 221.8 billion.
Share on:
