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California High-Speed Rail Authority (CHSRA) and U.S. Small Business Administration (SBA) officials have signed a two-year agreement to strengthen and expand Central Valley small business participation in the initial construction of the state's high-speed rail system.

The agreement will help solidify the authroity's small business goals, said CHSRA Chief Executive Officer Jeff Morales in a press release.

"The authority has made a major commitment to including small businesses in the high-speed rail program," he said. "Thousands of Central Valley residents, small business owners and their employees will receive good-paying jobs and help us to build a world-class transportation system."

The Central Valley portion of project is expected to create 20,000 jobs annually over a five-year period. Last year, the CHSRA approved a small business program that includes a 30 percent goal for small business participation.

The state's high-speed rail system initially will run from San Francisco to Los Angeles/Anaheim via the Central Valley, and later to Sacramento and San Diego.