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10/17/2023
The Mineta Transportation Institute (MTI) has released a report, The Economic and Environmental Potential of High-Speed Rail, that explores economic and environmental benefits of U.S. high-speed rail.
The benefits include job growth and increased economic activity; creation of an entirely new domestic manufacturing base; station area development and improved regional connectivity; and reduced greenhouse gas emissions and better land use, according to a news release.
Other potential benefits mentioned were job creation and economic output. For example, the California High-Speed Rail Authority estimates that high-speed rail has generated an estimated 74,000 to 80,000 job years, $5.6 billion to $6 billion in labor income, and $15 billion to $16 billion in economic output between 2006 and 2022.
As of 2015, it was estimated that the rail manufacturing industry supports 90,000 jobs and that more than 750 companies in at least 39 states manufactured components for passenger rail and transit.