Want to create billions of dollars in new business and thousands, or even hundreds of thousands, of new jobs? Build high-speed rail in your region.
Since President Obama announced earlier this year that the federal government was investing $8 billion in high-speed rail projects across the country, I have seen people asking repeatedly, “Is this really a good investment?” Or just claiming outright that it is not. If implemented badly, or only in disconnected pieces, high-speed rail could flop. But, if implemented as proposed, high-speed rail is a great investment, which is why so many people (especially experts in this field) are so enthusiastic about it. A recent report out by the U.S. Conference of Mayors confirms this claim and gives right to that enthusiasm.