Report: Texas High-Speed Rail Worth $35 Billion in Economic Benefit by 2040
Brandon Formby reports on the results of a study by Texas Central Partners about the potential economic benefit of a high-speed rail connection between Dallas and Houston. According to the study, as reported by Formby, "the project will spur $36 billion in economic benefits over 25 years – and will pour hundreds of millions of dollars into government coffers each year."
The private development of the project will bring unique benefits to public revenues. "Because Texas Central is a private company, its property and infrastructure is taxable, unlike tax-funded rail lines or highways. That means the company will have to pay property taxes to cities, school districts and counties for the entire length of its track between the two metropolitan areas. Those rural counties between the two cities is home to several people who oppose the project," explains Formby. In all, the report expects Texas Central to pay $2.5 billion in taxes by 2040.
The article also includes soundbites offered by Kyle Workman, president of Texans Against High-Speed Rail. Workman says the study overlooks the loss of property value on land taken along the route.
The article also includes more about forthcoming decisions about station locations.
Texas Central Partners hired Insight Research Group, based in Allen, Texas, to complete the study.