Does High-Speed Rail Mean High-Speed Job Growth?

Yes it does, according to U.S. Transportation Secretary Ray LaHood.

Earlier this week LaHood announced $2 billion in high-speed rail awards providing an unprecedented investment to speed up trains in the Northeast Corridor, expand service in the Midwest and provide new, state-of-the-art locomotives and rail cars as part of the Administration’s plan to transform travel in America.

Other than the up front expense of building it, High-Speed rail seems to be a purely good thing.  Faster, safer travel.  Less cars on the road leading to less pollution.  And in the long run the expense should be offset by the effect these projects will have on the economy, first and foremost, job creation.

“Earlier this year, President Obama and I made a commitment to improve and expand America’s transportation system, including the development of a modern, national high-speed rail network,” said Vice President Biden. “And today, we’re announcing investments that will continue our progress toward making this vision a reality. These projects will put thousands of Americans to work, save hundreds of thousands of hours for American travelers every year, and boost U.S. manufacturing by investing hundreds of millions of dollars in next-generation, American-made locomotives and railcars.”

Nearly 100 percent of the $2.02 billion announced today will go directly to construction of rail projects, bringing expanded and improved high-speed intercity passenger rail service to cities in all parts of the country. Thirty-two states across the U.S. and the District of Columbia are currently laying the foundation for high-speed rail corridors to link Americans with faster and more energy-efficient travel options.

A strict “Buy America” requirement for high-speed rail projects ensures that U.S. manufacturers and workers will receive the maximum economic benefits from this federal investment. In 2009, Secretary LaHood secured a commitment from 30 foreign and domestic rail manufacturers to employ American workers and locate or expand their base of operations in the U.S. if they are selected for high-speed-rail contracts.