Senator Dave Cortese’s High Speed Rail Bill To Advance Economic Opportunities Is Passed by the Senate And Moves Forward to the Assembly

SACRAMENTO –The California Senate today passed SB 545, Senate Transportation Chair Dave Cortese’s bill to advance major economic opportunities connected to the High Speed Rail Project.

Senate Bill 545 would commission a study on the extraordinary commercial and residential economic development opportunities along the California High Speed Rail corridor focusing on increased land value development incentives and public-private partnerships from Los Angeles to San Francisco.

“Meanwhile the Governor is asking the legislature to reauthorize Cap and Trade until 2045 fixing the High Speed Rail Project contribution at one billion dollars annually. This makes my Senate Bill 545 even more relevant because it would commission the study on a project which has already created 14,600 high-quality jobs, engaged 880 small businesses and will prevent 142 million metric tons of carbon dioxide emissions. There will be massive development potential along the 400 mile corridor.  The study will help guide the state to examine opportunities for major residential and commercial development in the High Speed Rail corridor, synergy which can help pay for the infrastructure itself.”

“The bill sets the foundation for increasing commercial and residential development investment along the High Speed Rail corridor to create jobs, desperately needed housing, attract businesses and generate new revenue streams that will help fund a lot of things.”

Ground was originally broken on the High Speed Rail project in Fresno in 2015. Fresno Mayor Jerry Dyer is a supporter of Cortese’s bill.

“I strongly believe in two things – that Downtown Fresno is on the cusp of a major economic revival, and that if the state’s High Speed Rail project becomes a reality, that revival will be even better and stronger. That’s why I support Senate Bill 545, which would study the economic opportunities along the high-speed route. I believe it will show positive benefits in the cities where stations will be built.  I want to thank Senator Cortese for proposing this bill, which will prove what I think we all already know intrinsically – high-speed rail is not only good for air quality, but it has the potential to be an economic driver,” said Jerry Dyer, Mayor of Fresno.

For the most up-to-date fact sheet on the project click on this link: factsheet.

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