Florida: High-Speed Rail Would Have Been Profitable, State Report Says

[marmar]

Feb. 06--TAMPA -- The high-speed rail project that Gov. Rick Scott doomed last February by turning down more than $2 billion in federal money would have made an annual surplus of $31 million to $45 million within a decade of operation, according to a state report.

The Florida Department of Transportation sent the report to the Federal Railroad Administration in November. The Tampa Tribune obtained the document after a lengthy public records request.

The heart of the report is an analysis by two consulting firms of projected ridership, costs and the resulting surplus -- or loss. If the project to link Tampa and Orlando would have gone forward, the research would have been used in determining an investment grade for bond sales.

According to data from both consulting firms hired by the state, the project, which would have given Florida the nation's first high-speed rail line, would have been a fiscally sound decision. ...................(more)

The complete piece is at: http://www.masstransitmag.com/news/10623801/fl-high-speed-rail-would-have-been-profitable-state-report-says

[greytdemocrat]

1. As a FL resident

I'm glad this project was deep-sixed. "Projected" numbers are usually full of you know what.