How the $7.5 billion rail project will affect Washington’s future
The rail project is poised to be a key component of Washington’s long-term transportation plan, with construction of the $6.5-billion rail line set to begin by mid-2019.
The $7 billion rail line will connect the city’s downtown with the East Coast and connects to the Metro system, the Washington Metropolitan Area Transit Authority said Thursday.
The project is one of several rail projects that are poised to create a significant amount of jobs and economic growth.
The rail line is expected to create at least 1,000 construction jobs and create as many as 150 permanent construction jobs.
The rail line, the first in the nation, is expected take about two years to complete, according to the agency.
The agency said that, after completion, the rail line would be able to service more than 15 million riders daily.
The station near downtown is slated to be one of the largest in the country, and the new rail line could lead to more frequent service.
“The rail extension is expected be a significant economic development boon for Washington and the region,” said Mark B. Gerson, executive director of the Washington Business Alliance.
“The construction of this rail line makes a significant contribution to the region’s economy.”
The rail project, which is expected in mid-to-late 2019, will connect Washington with the Northeast, Central, and South, and to the Washington Metro.
The federal government is seeking to add at least five new rail stations to the area to serve people from the Southeast and the Southeast region.
The new stations will be near the planned Amtrak station in Alexandria and the Dulles Airport in Virginia.
The railroad project is expected draw $1.4 billion in federal tax revenue and $2.2 billion in private-sector private-job-creation projects.
The city is expected create about 3,000 permanent construction and 1,200 temporary construction jobs, according the agency, and it will have at least $4.2 million in state revenue generated through its new transit tax.