AAF hired a local firm to assess the construction and operational economic impact of the new rail service. The actual study can be found at the link.
http://blogs.browardpalmbeach.com/pulp/2014/05/all_aboard_florida_will_bring.php
A local economic consulting firm released a
study on Wednesday that says All Aboard
Florida will add nearly $2.4 billion in jobs
over the next eight years to Florida, and
$653 million in tax revenue.
All Aboard Florida, which is a private rail
service that plans on running a passenger
train from Miami to Orlando with stops in
Fort Lauderdale and West Palm Beach,
hired Coral Gables-based The Washington
Economics Group Inc., to study the overall
impact to the state.
And, as far as the group is concerned, it's
all positive for Florida.
See also: All Aboard Florida Addresses Noise
Concerns in Letter to Congressman Patrick Murphy
Among other things, the study says that the
rail system would improve the existing rails
laid down by Henry Flagler back in the
1890s through private investors. The study
also claims that the state's roads and
overall environment will be improved,
calculating that around 3 million vehicles
will be eliminated -- not to mention traffic
congestion -- from the roads as a result of
the rail system.
The study also says that downtown centers
would be revitalized, particularly in Fort
Lauderdale and West Palm Beach, with
stations located in both cities.
The Fort Lauderdale station would bring
over 300 jobs and more than $121 million
in labor income. Overall, Broward County
would see 488 added jobs, and $54.8 million
in labor income, according to the study.
The West Palm Beach station would create
more than 170 jobs, with Palm Beach
County seeing 952 overall jobs, and $107
million in labor income.
Of course, All Aboard Florida is being met
with some resistance, particularly in
Broward County.
Just last month, the railway company was
forced to answer concerned brought up by
Congressman Patrick E. Murphy over the
noise pollution the 110-mph trains and
their blaring horns would potentially bring,
and the cost of erecting quiet zones.
All Aboard Florida answered by citing an
environmental assessment study by the
Federal Railroad Administration that found
"no significant impact" in the route between
Miami and West Palm Beach. The company
also said the remainder of the proposed
corridor is subject of an ongoing
environmental impact statement.
The Federal Rail Administration is expected
to release a full environmental impact study
very soon.
The railway is also facing scrutiny from
Fort Lauderdale boaters, who fear the rails
will mean longer wait times at bridges and
crossings, such as New River. The U.S. Coast
Guard is also expected to weigh in on the
rail system.
All Aboard Florida, which is owned by
Florida East Coast Industries, plans to
launch the passenger service in 2016.
Here is the official press release from the AAF website.
All Aboard Florida will have significant economic benefits on the state according to the findings from the comprehensive economic impact study released today. With more than $6 billion in positive economic impact for the state over the next eight years, study findings indicate that the highly-anticipated project will serve as an engine for growth and prosperity for Florida cities and local governments.
The study – conducted by The Washington Economics Group (WEB) – also revealed the project will add nearly $3.5 billion in GDP to the state of Florida's economy, in addition to an estimated $2 billion in labor income and more than $600 million in tax revenues for Federal, State and Local Governments through 2021. Additionally, the project is expected to create more than 10,000 construction jobs on average per year during rail-line construction set to begin mid-2014 through mid-2016.
Dr. Tony Villamil, former U.S. Undersecretary of Commerce and Chief Economist with more than 20 years of experience, led the study for WEG, a leading economic consulting practice based in Florida. The report also revealed that the economic stimulus impacts would begin at the start of the project's construction in 2014 and, beyond the economic benefit, a significant number of jobs will also be generated.
"The All Aboard Florida passenger rail system is of significant importance to the State of Florida's economic development and to all of the regions serviced by the modern and multimodal mass transportation All Aboard Florida operations," said Dr. Tony Villamil, Founder and Principal, WEG. "The benefits accrued to the State and to the counties serviced along the route go beyond the quantifications of economic impact by encouraging further business development and providing support to key Florida industries such as travel and hospitality, while also improving the mobility of the labor force."
For additional insights from the study, please visit our website to view the full press release, fact sheet and the executive summary.
Thank you,
All Aboard Florida Management Team