All Aboard Florida: High-Speed Rail Will Create Jobs, Help Economy

Washington Economics Group (WEG) released a study on Wednesday which shows All Aboard Floridas plan to link Miami and Orlando by high-speed rail will add almost $3.5 billion to Floridas economy, add $2 billion in labor income and generate $600 million in tax revenue. The study also shows All Aboard Florida will create more than 10,000 jobs during its first two years of operation.

As two mutually reinforcing businesses passenger rail and transit-oriented development with direct benefits from each made possible through private investment, All Aboard Florida leads to a cycle of additional investment and economic opportunity, said Mike Reininger, the president and chief development officer of All Aboard Florida, on Wednesday.

The All Aboard Florida passenger rail system is of significant importance to the state of Floridas economic development and to all of the regions serviced by the multimodal mass transportation of All Aboard Florida operations, said Dr. Tony Villamil of WEG. The benefits accrued to the state and to the counties serviced along the corridor go beyond the quantifications of economic impact by encouraging further business development and providing support to key Florida industries such as travel and hospitality, while also improving the mobility of the labor force.

The study can be read here.