California high-speed rail project's economic impact is $22B, authority says

The California High-Speed Rail Authority (CHSRA) last week reported that the high-speed rail construction project has generated over $22 billion in economic activity and created thousands of jobs.

In its 2024 economic impact report, CHSRA states that nearly all of the project’s fiscal-year 2023-2024  spending has been to California businesses and workers, with two out of three dollars going to historically disadvantaged communities, authority officials said in a press release. The project has already created approximately 109,000 job-years, defined as one-year full time jobs, and project workers have earned $8 billion in total income.

The authority estimates completing the 171-mile Merced to Bakersfield initial passenger service would result in a total of 333,000 job-years of employment and total economic activity of $70.3 billion.

The economic impact analysis is updated annually and reflects data as of June 2024. The full report can be read here.