LOS ANGELES, CA – The Los Angeles Area Chamber of Commerce applauds President Barack Obama and congratulates Governor Arnold Schwarzenegger on the $2.25 billion in grants being awarded to California for high-speed rail.
“This announcement is more than just a transportation project,” said L.A. Area Chamber President & CEO Gary Toebben. “These funds will propel the economic recovery we have all been working toward, as well as transform transportation throughout California and the nation.”
The L.A. Area Chamber thanks President Obama for this large investment in the State’s infrastructure, as well as for the 600,000 construction-related and 450,000 permanent jobs the project is slated to create. Part of the $8 billion package aimed at developing 13 large-scale high-speed rail corridors, California’s funds will be used to connect Los Angeles and San Francisco by trains traveling at more than 200 mph.
The L.A. Area Chamber also commends Governor Schwarzenegger and the Legislature for their leadership in putting together a winning application.
“Because of California’s dollar-for-dollar match, we will essentially double the federal government’s investment, and that will allow us to go further and create more jobs than any other state in the nation,” Toebben said.
As the largest business advocacy organization in the greater Los Angeles Area and a long-standing advocate for improved mobility, the L.A. Area Chamber has been a strong supporter of the high-speed rail initiative, recognizing not only the new opportunities it brings for economic growth and environmental improvements, but also the benefit of the improved movement of goods and people throughout the state.
The Los Angeles Area Chamber of Commerce represents the interests of business in L.A. County. Founded in 1888, the Chamber promotes a prosperous economy and quality of life in the Los Angeles region. For more information, visit www.lachamber.com.