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Today, the U.S. Conference of Mayors issued a report "positively assessing" the economic impact of high-speed passenger rail along the proposed U.S. high-speed corridors, according to a prepared statement.

Prepared by the Economic Development Research Group Inc. and sponsored by Siemens, the report — “Connecting America With High Speed Rail” — was conducted from January through May. It analyzed the potential economic impact of high-speed rail in four cities: Los Angeles, Chicago, Orlando, Fla.,  and Albany, N.Y.

Specifically, the report examined job creation, the effects of improved market access, greater connectivity, travel time savings, as well as increased income and business sales. High-speed rail “could significantly increase jobs and business sales if fully implemented as planned by 2035,” the mayors noted, adding that the impact could be even higher if travel times between cities were reduced to under three hours.

“Our country cannot successfully compete in the global economy if we fail to invest adequately in our domestic transportation infrastructure, particularly in cities and their metropolitan areas — which underpin so much of our country's economic input,” said Tom Cochran, chief executive officer and executive director of the U.S. Conference of Mayors, which is holding its 78th annual meeting this week in Oklahoma City. “And that investment should include dedicated federal funding for high-speed intercity passenger rail service in the pending authorization of the federal surface transportation law.”

For more report detail, follow this link.