By David Hagy — Regional Vice President for Texas Central
The Texas Bullet Train – which will create thousands of jobs and billions in economic development for Texas – is moving quickly toward construction. While some of the best technical experts in the world are working every day to design and develop the system, there is also significant work being done to establish the workforce that will build, operate, and maintain the train.
The Texas Bullet Train is financially viable without state or federal grants. Not only has Texas Central been committed to an investor-led financing model since day one, Senate Bill 979 passed during the last legislative session and signed by Governor Abbott ensures that the State of Texas cannot use tax dollars to build, operate, or take over the train system. Like other private companies, Texas Central could take advantage of federal loans and pay them back with interest.
Here are a few of the ways Texans will benefit from the high-speed train:
- The Texas Bullet Train will create approximately 10,000 direct jobs per year during construction and more than 1,500 permanent jobs.
- Two to four indirect jobs will be created for each permanent job. (DEIS, Section 188.8.131.52.3)
- Many of the permanent jobs will be in rural communities.
- Many Texas companies are already working on the train, joining with some of the most experienced companies in the world, including: Fluor Corporation, Lane Construction, WSP, Bechtel, Freese and Nichols, and ARUP.
- The investor-owned Texas Bullet Train will provide a permanent tax base by paying billions in taxes to the State of Texas and counties, cities, school districts, and hospital districts along the route.
- The train will pump $36 billion directly into the Texas economy over the next 25 years. This is the equivalent of 84 Super Bowls.
- The Bullet Train will create a new Super Economy. By linking Greater Houston, the Brazos Valley, and North Texas, the train will connect 42 Fortune 500 companies, 83 Fortune 1000 companies, over 30 academic institutions (universities, medical centers, etc.), and more than 340,000 graduate and undergraduate students, including those attending Texas A&M/Blinn in Bryan/College Station and Sam Houston State in Huntsville.
- The Bullet Train will plant a new American industry right here in the Lone Star State.
The Texas Bullet train is bringing jobs, a Texas-sized boost to the economy, and an alternative transportation system with the best safety record in the world to our state. It’s good for Texas.