Washington, D.C. – Yesterday, at a news conference in Tampa, Florida, President Barack Obama announced $8 billion in grants for high speed rail projects across the nation. The first nationwide program of intercity passenger rail service will distribute funds to projects in 31 states through the American Recovery and Reinvestment Act (ARRA).

“This historic investment will go a long way towards improving our communities and quality of life,” said Marcia Hale, President of Building America’s Future. “I applaud the Obama Administration and Congress for their support and commitment to this program. These funds are an important down payment to realizing a U.S. High Speed Rail network, but government investment alone will not get the job done. Now, more than ever, we need Congress to create a National Infrastructure Bank to leverage state funds and attract private capital.”

Full breakdown of high speed rail investments here: http://www.whitehouse.gov/sites/default/files/rss_viewer/hsr_awards_summary_public.pdf

Co-chairs Governor Arnold Schwarzenegger (R-CA) and Governor Edward Rendell (D-PA) also issued official statements regarding investments toward California and Pennsylvania routes.

Excerpt from Governor Schwarzenegger: “State leaders fought hard for this investment because it means jobs, jobs, jobs for Californians. Thanks to our leading high-speed rail plan and the Obama Administration’s investment, we will be able to create jobs, stimulate our economy and be home to the first true high-speed rail system to break ground in the nation. California’s leaders came together to support and submit one high-speed rail proposal and because of that, $2.3 billion will now flow into the California economy.” Link to full release: http://gov.ca.gov/press-release/14304/ 

Excerpt from Governor Rendell: “I applaud President Obama’s leadership for recognizing and investing in strategies that will be crucial if we are to meet the transportation needs of the next century. From a national perspective, it is highly appropriate to make the largest investments in the two marquee projects in California and Florida while continuing to move other shovel-ready projects forward. I am pleased that the U.S. Department of Transportation selected our two priority projects for funding. Pennsylvania and the nation must continue to look for ways to underwrite more passenger rail investment. These awards are terrific and we hope that future rail allocations can consider two other important Pennsylvania rail projects – the Pittsburgh Maglev Project and the Scranton to New York passenger rail service.” Link to full release: http://www.governor.state.pa.us/portal/server.pt?open=512&objID=2999&PageID=431162&mode=2&contentid=http://pubcontent.state.pa.us/publishedcontent/publish/global/news_releases/governor_s_office/news_releases/governor_rendell__federal_recovery_funds_create_jobs__improve_pennsylvania_s_major_rail_corridor.html

At the same news conference, President Obama also reiterated his support for the creation of a National Infrastructure Bank to help finance infrastructure projects of national importance.

“We applaud President Obama for reiterating his commitment to the National Infrastructure Bank,” said Ms. Hale. “The Bank is critically needed as a vehicle for reforms. We must ensure that funding decisions are based on merit, rather than politics and that there is increased transparency in the process. The Bank helps to accomplish both.”

For More Information on the National Infrastructure Bank, Please Visit: http://bafuture.org/coalition-urges-congress-and-obama-administration-to-create-national-infrastructure-bank.

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Building America’s Future (www.BAFuture.org) is a bipartisan and national organization dedicated to bringing about a new era of U.S. investment in infrastructure that enhances our nation’s prosperity and quality of life. Comprised of state and locally elected officials from around the nation, Building America’s Future seeks to advance a new national vision for infrastructure investment that focuses on economic growth and global competitiveness, job creation, and environmental sustainability. Please follow us on Twitter (www.twitter.com/infrastructure2), Facebook (www.facebook.com/pages/Building-Americas-Future/93937354725), and YouTube (www.youtube.com/bafinfrastructure).