The US Department of Transportation (DOT) today announced the approval of $2.5 billion in bonds authority allocated for the Brightline West High-Speed Intercity Passenger Rail project.* When completed, it will connect Las Vegas, Nevada, and Southern California.
“Today, the Biden-Harris administration takes the next step to fulfill the promise of high-speed rail in the American West, with $2.5 billion in private activity bond authority to lay tracks, create jobs, and connect American cities,” said U.S. Transportation Secretary Pete Buttigieg.
“President Biden’s historic infrastructure package gives us the opportunity to build safe, green, and accessible rail systems that will deliver benefits to the American people for generations to come,” said Buttigieg.
The 218-mile, high-speed rail line will primarily run along the I-15 median with trains capable of reaching 186 mph, cutting the trip to two hours – half the time if traveling by car. Brightline West’s $12 billion high-speed rail project will be a fully electric, zero-emission system. It likely will become one of the greenest forms of transportation in the US. The project will bolster tourism, create 35,000 good-paying jobs, ease traffic on I-15, and cut more than 400,000 tons of carbon pollution each year, it’s claimed.
“Building a high speed rail corridor from Las Vegas to Southern California will drive economic investment and opportunity across the region,” said US Transportation Deputy Secretary Polly Trottenberg. “Residents and visitors alike will benefit from access to a fast and sustainable travel option that better connects key cities.”
*DOT previously approved a private activity bond allocation of $1 billion for Brightline West in 2020, bringing the total allocation for this project to $3.5 billion. In December 2023, DOT also awarded a $3 billion grant from President Biden’s infrastructure law to the Nevada Department of Transportation for this project. In June, DOT awarded a $25 million grant to San Bernardino County Transportation Authority (SBCTA) through the Rebuilding American Infrastructure with Sustainability and Equity (RAISE) Program that will be used for the construction of the Brightline West stations in Hesperia and Victor Valley, California.
“As the first true high-speed rail system in America, Brightline West will serve as the blueprint for connecting cities with fast, eco-friendly passenger rail throughout the country,” said billionaire Brightline Founder and Chairman Wes Edens. “Connecting Las Vegas and Southern California will provide wide-spread public benefits to both states, creating thousands of jobs and jump-starting a new level of economic competitiveness for the region. We appreciate the confidence placed in us by DOT and are ready to get to work.”**
To date, the Biden-Harris Administration has announced ~$31 billion in investments for the US rail system. This is said to be the most significant investment in passenger rail since the creation of Amtrak. Including the new Railroad Crossing Elimination (RCE) program grants and Consolidated Rail Infrastructure and Safety Improvements (CRISI) grants announced last year, President Biden’s Investing in America Agenda is laying the foundation for a safe and modern rail network.
** (Courtesy of New Fortress Energy) In 2014, Wes Edens founded New Fortress Energy with the goal of reducing carbon emissions and fostering economic development through universal access to cleaner, affordable, and reliable energy. As CEO, he has led the company’s rapid growth into a fully integrated, global energy leader that is improving the lives of millions through its liquefied natural gas (LNG) terminals, power generation facilities, and logistics assets across the world. With initiatives focused on renewable hydrogen and clean technology, Mr. Edens’ long-term vision for the company is to become one of the world’s leading providers of carbon-free power.
Mr. Edens is also co-founder and co-CEO of Fortress Investment Group, a global investment management firm. Under his leadership, Fortress has developed and owned transportation and infrastructure projects across the world, and built industry-leading businesses in real estate, health care, financial services, media, and entertainment.
He has also been a catalyst for the development of Brightline, the first privately owned, operated, and maintained passenger rail system in the United States, connecting Florida cities from Miami to Orlando and providing a second corridor between Southern California and Las Vegas.
Mr. Edens served as inaugural co-chair of the Brown School of Public Health Advisory Council. He and his family also established The Edens Family Fund for Climate Change Research at Princeton University and endowed the Edens Professorship in Global Health at Macalester College in St. Paul, Minnesota, along with a research fund to focus on solving international infectious diseases and environmental health hazards.
DOT – Brightline West High-Speed Rail Gets $2.5B
The US Department of Transportation (DOT) today announced the approval of $2.5 billion in bonds authority allocated for the Brightline West High-Speed Intercity Passenger Rail project.* When completed, it will connect Las Vegas, Nevada, and Southern California.
“Today, the Biden-Harris administration takes the next step to fulfill the promise of high-speed rail in the American West, with $2.5 billion in private activity bond authority to lay tracks, create jobs, and connect American cities,” said U.S. Transportation Secretary Pete Buttigieg.
“President Biden’s historic infrastructure package gives us the opportunity to build safe, green, and accessible rail systems that will deliver benefits to the American people for generations to come,” said Buttigieg.
The 218-mile, high-speed rail line will primarily run along the I-15 median with trains capable of reaching 186 mph, cutting the trip to two hours – half the time if traveling by car. Brightline West’s $12 billion high-speed rail project will be a fully electric, zero-emission system. It likely will become one of the greenest forms of transportation in the US. The project will bolster tourism, create 35,000 good-paying jobs, ease traffic on I-15, and cut more than 400,000 tons of carbon pollution each year, it’s claimed.
“Building a high speed rail corridor from Las Vegas to Southern California will drive economic investment and opportunity across the region,” said US Transportation Deputy Secretary Polly Trottenberg. “Residents and visitors alike will benefit from access to a fast and sustainable travel option that better connects key cities.”
*DOT previously approved a private activity bond allocation of $1 billion for Brightline West in 2020, bringing the total allocation for this project to $3.5 billion. In December 2023, DOT also awarded a $3 billion grant from President Biden’s infrastructure law to the Nevada Department of Transportation for this project. In June, DOT awarded a $25 million grant to San Bernardino County Transportation Authority (SBCTA) through the Rebuilding American Infrastructure with Sustainability and Equity (RAISE) Program that will be used for the construction of the Brightline West stations in Hesperia and Victor Valley, California.
“As the first true high-speed rail system in America, Brightline West will serve as the blueprint for connecting cities with fast, eco-friendly passenger rail throughout the country,” said billionaire Brightline Founder and Chairman Wes Edens. “Connecting Las Vegas and Southern California will provide wide-spread public benefits to both states, creating thousands of jobs and jump-starting a new level of economic competitiveness for the region. We appreciate the confidence placed in us by DOT and are ready to get to work.”**
To date, the Biden-Harris Administration has announced ~$31 billion in investments for the US rail system. This is said to be the most significant investment in passenger rail since the creation of Amtrak. Including the new Railroad Crossing Elimination (RCE) program grants and Consolidated Rail Infrastructure and Safety Improvements (CRISI) grants announced last year, President Biden’s Investing in America Agenda is laying the foundation for a safe and modern rail network.
** (Courtesy of New Fortress Energy) In 2014, Wes Edens founded New Fortress Energy with the goal of reducing carbon emissions and fostering economic development through universal access to cleaner, affordable, and reliable energy. As CEO, he has led the company’s rapid growth into a fully integrated, global energy leader that is improving the lives of millions through its liquefied natural gas (LNG) terminals, power generation facilities, and logistics assets across the world. With initiatives focused on renewable hydrogen and clean technology, Mr. Edens’ long-term vision for the company is to become one of the world’s leading providers of carbon-free power.
Mr. Edens is also co-founder and co-CEO of Fortress Investment Group, a global investment management firm. Under his leadership, Fortress has developed and owned transportation and infrastructure projects across the world, and built industry-leading businesses in real estate, health care, financial services, media, and entertainment.
He has also been a catalyst for the development of Brightline, the first privately owned, operated, and maintained passenger rail system in the United States, connecting Florida cities from Miami to Orlando and providing a second corridor between Southern California and Las Vegas.
Mr. Edens served as inaugural co-chair of the Brown School of Public Health Advisory Council. He and his family also established The Edens Family Fund for Climate Change Research at Princeton University and endowed the Edens Professorship in Global Health at Macalester College in St. Paul, Minnesota, along with a research fund to focus on solving international infectious diseases and environmental health hazards.