Rail

Study: Midwest HSR could bring $300B in new business

Posted on April 28, 2011

A high-speed rail system serving all major metropolitan areas within 350 to 450 miles of Chicago could result in significant ridership, economic development and job creation, according to the Midwest High-Speed Rail Association.

On Thursday, the Association released a study titled "The Economic Impacts of High Speed Rail: Transforming the Midwest," with Siemens, who sponsored the study and research partners AECOM and the Economic Development Research Group (EDRG).

The study demonstrates both the feasibility and the promise of this network:

•    An estimated 43 million annual riders from 13 cities and major metropolitan areas.

•    More than $2.2 billion annually in user-generated revenues.

•    25 daily departures on each of the four corridors.

•    Capacity for up to 10 trains in peak hours on each corridor.

•    Two to three hour travel times between Chicago and the furthest points of the network.

•    104,000 new jobs and an additional $5.5 billion in wages each year in the Chicago Metro area resulting from increased economic development.

•    $13.8 billion per year increase in business sales for the Chicago Metro area alone.

The purpose of this study is to provide a roadmap for implementing high-speed rail in the Midwest. It describes the steps needed to make this vision a reality and the potential economic benefits for each of the other cities on the system and the region as a whole — while illustrating how high-speed rail could help to transform economies of the Midwest.

"We believe that a high-speed rail system will unify the Midwest and solidify its future position as one the world's most powerful economies," said Richard Harnish, executive director, Midwest High Speed Rail Association. "The economic impact of the 220-mph network on the Midwest would be staggering. In the Chicago area alone, it would create thousands of new jobs and business opportunities that will support and enhance the Chicago metropolitan area's global competitiveness."

AECOM and EDRG researched a system that would serve all major metropolitan areas within 350 to 450 miles of Chicago. This region would be served by a four-spoke network, with Chicago at the center of corridors connecting to Cleveland/Detroit, Cincinnati, St. Louis and Minneapolis-St. Paul. Trains would operate at 220 mph on dedicated track with no grade crossings.

The Midwest High Speed Rail Association is sharing these initial findings at the National Association of Counties Rail Conference in Lisle, Ill. on Thursday.

View comments or post a comment on this story. (0 Comments)

More News

FRA invests $21.2M in PTC, grade crossing safety, passenger rail

Grants awarded are part of a Notice of Funding Availability it issued in July 2014 to distribute new FY14 Omnibus funding as well as unobligated funds from the High-Speed Intercity Passenger Rail Program.

Metra adopting 'confidential close call reporting system'

According to the FRA, which has promoted the adoption of the system by a handful of railroads so far, the system complements existing safety programs, builds a positive safety culture, creates an early warning system, focuses on problems instead of people, provides an incentive for learning from errors and targets the root cause of an issue, not the symptom.

Cost of 3-week Cincinatti streetcar delay could total $2M

Additionally, the Southwest Ohio Regional Transit Authority has reduced its estimates by $569,000 for both streetcar fare revenue and what it believes it can capture from those who want to advertise on the vehicles.

The case for driverless trains by the numbers

Some of the benefits discussed by a CityLab report, include a 70% savings in staff, higher frequencies, significant operational savings and more room for passengers.

State lawmakers urge Metro Transit to step up fare enforcement

While an audit found that one of every 10 light rail passengers may not be paying fares, Metro Transit reports 94% compliance on its Green Line and 97% compliance on its Blue Line. Moving away from an honor system and installing turnstiles could cost the agency $107 million, according to the report.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The resource for managers of class 1-7 truck Fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close