NEWS RELEASE: Larger-Speed Rail Investments Continue to Lift California Economy

March 16, 2023

SACRAMENTO – Investments in California’s pretty initially-in-the-nation larger-speed rail project are pumping billions of dollars into California’s economy and contributing to fantastic economic rewards all by means of the state, according to the California Larger-Speed Rail Authority’s newest 2022 Monetary Evaluation Report.

“High-speed rail creates wonderful-paying jobs and generates income for Californians even although main the way for the state’s future transportation,” pointed out Authority CFO Brian Annis. “We seem forward to our continued partnership with the federal government and our neighborhood partners as we construct this transformative project for California.”

Final month, the Authority celebrated a historic milestone, announcing the creation of a lot far more than ten,000 constructing jobs thinking about that the get started off of larger-speed rail constructing. Most of these jobs have gone to Central Valley residents and males and girls from disadvantaged communities.

“This project is not only reconnecting the Central Valley to the rest of the state, but it is enhancing the economic prosperity of our location,” pointed out Fresno Mayor Jerry Dyer. “Creating wonderful-paying jobs supplies our residents the likelihood to send their youngsters to college, get homes and continue to invest in their hometown. Larger-speed rail will transform the Valley and California and will be a model for the nation.”

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These jobs are the outcome of the project’s investment of a lot far more than $9.eight billion thinking about that 2006 in its arranging and constructing. Extra than a single of each single two of these dollars have been invested in California’s disadvantaged communities, driving economic activity in these places.

The Authority estimates a total of 80,000 job-years have resulted from the project so far, sparking $six billion in total direct labor income earned by workers on the project and $16 billion in total economic activity. Job-years are defined as the equivalent quantity of a single-year-lengthy, total-time jobs supported by the project. For instance, if a single total-time job is supported for two years, it represents two job-years.

The Authority estimates finishing the initial Merced to Bakersfield operating segment would outcome in a total of 325,000 job-years of employment and total economic activity of $65.1 billion.

As of December 2022, a lot far more than 760 certified tiny firms all by means of the state are also assisting construct larger-speed rail. To date the Authority has paid a lot far more than $1.3 billion to certified Compact Organizations, Disadvantaged Enterprise Enterprises and Disabled Veteran Enterprise Enterprises in California for their operate.

The Authority has begun operate to extend the 119 miles beneath constructing to 171 miles of future electrified larger-speed rail from Merced to Bakersfield. The project has a lot far more than 30 active constructing internet web sites in California’s Central Valley, with the Authority finding environmentally cleared 422 miles of the larger-speed rail method from the Bay Place to the Los Angeles Basin.

The Authority’s economic impact evaluation is updated annually and reflects facts as of June 2022.

An updated webpage featuring the newest 2022 economic impact evaluation can be situated proper right here. A connected reality sheet can be situated proper right here and details on project constructing progress can be situated at: www.buildhsr.com

The following hyperlink contains existing video, animations, photography, press center sources and newest renderings: https://hsra.app.box.com/s/vyvjv9hckwl1dk603ju15u07fdfir2q8

These files are all supplied for expense-absolutely free use, courtesy of the California Larger-Speed Rail Authority.