A new study shows that investing in passenger rail between New Haven and Worcester via the Hartford-Springfield Metro Area would bring a nearly 10 to 1 return on investment, officials said.
The report, commissioned by the Capitol Region Council of Government (CRCOG), found that the $6 to $9 billion in investments made to finish the Hartford Line and connect it to Worcester would have the potential to result in $47 to $84 billion in new regional GDP over the next 30 years.
“I am proud to have helped secure federal funding for the successful Hartford Line. Now is the time to build on that success. Improving the Hartford Line and expanding it to Worcester would provide reliable service between Boston and New York City. This would have a profound economic impact for the greater Hartford region, including our neighbors in New Haven and in Springfield and beyond. I look forward to working with Chairman Neal, the Capitol Region Council of Governments, and the Pioneer Valley Planning Commission, to help make this important vision a reality,” U.S. Rep. John B. Larson (D-CT) said.
The return on investment would come in the form of 20,000 to 40,000 jobs in information technology, finance, and professional services and potential development around the station areas of 20 million square feet of commercial development and 30,000 house units.
“I have been a staunch advocate for improved rail in western and central Massachusetts for decades,” U.S. Rep. Richard E. Neal (D-MA) said. “The findings in the report are welcome news and echo what we already know – improved rail along the inland route from Worcester to Springfield-south is good for the entire region. Economic growth, jobs, and unparalleled opportunity. It is simply too costly not to act at this moment. I will continue to work with Congressman Larson on the federal level and both the CRCOG and PVPC locally to ensure that rail service, in every direction, is a priority.”