During fiscal year 2023-24, 99 percent of California High-Speed Rail Authority’s high-speed rail system project’s expenditures went to California businesses and workers.
Two out of every three dollars went to disadvantaged communities, according to a recent report.
The authority’s 2024 Economic Impact Analysis Report highlights the project’s benefits to the state and role in stimulating economic growth.
The project has created nearly $22 billion in total economic activity and more than $8 billion in total labor income. The project also has created approximately 109,000 job-years of employment, the equivalent of a full-time job for one year, according to authority estimates.
“The benefits of investing in a high-speed rail system continue to ripple through the California economy,” Jamey Matalka, authority Chief Financial Officer, said. “This project is creating meaningful partnerships and jobs, lifting up disadvantaged communities and supporting greenhouse gas reduction goals.”
When the 171-mile Merced to Bakersfield initial passenger service is completed, the authority estimates it will have created $70.3 billion in economic activity and 333,000 job-years of employment.
When the 494-mile Phase 1 System between San Francisco to Los Angeles/Anaheim, via the underway Central Valley section, is completed, the authority estimates it will have created $221.8 billion in economic activity and 1.03 million job-years of employment.