Tens of thousands of new jobs are anticipated as railways across the country get big builds underway in the year ahead, thanks to new awards of over $8 billion from the Infrastructure Investment and Jobs Act (IIJA). In addition to investments in high speed corridors on each coast, funds are also aimed at freightlines and railroad crossings.
Choo Choo Action Near You?
A major commitment of 2021’s IIJA was investment in the nation’s railways, which have gone over fifty years without a real infusion of federal funds. Thus far, $30 billion has been awarded for rail projects, including, $16.4 billion for 25 Amtrak projects along the Northeast Corridor, and the recently announced $8 billion for ten additional builds, including these five major efforts:
Up to $3 billion for Brightline West High-Speed Intercity Passenger Rail project: The funding will help build the new $8 billion, 218-mile high-speed passenger rail system between California and Las Vegas….
$3.07 billion for California High-Speed Rail: The $128 billion, 500-mile high-speed rail line through California’s Central Valley will ultimately link Los Angeles and San Francisco….
Up to $1.1 billion for the Raleigh to Richmond (R2R) Innovating Rail Program: The funding will go to building out the Southeast Corridor from Raleigh to Wake Forest in North Carolina, which will eventually extend to Richmond, Virginia….
$729 million for the Long Bridge project: Part of the Transforming Rail in Virginia — Phase II program, the funding to construct a new two-track rail bridge over the Potomac River will expand passenger rail capacity and reduce congestion on the heavily-traveled corridor between Washington, D.C. and Richmond, Virginia.
$143.6 for the Pennsylvania Keystone Corridor: Upgrades will extend Amtrak service west of Philadelphia to Pittsburgh….
Not left out of the action are also big commitments to Chicago’s Union Station, support for Amtrak infrastructure in Montana, and a critical bridge replacement for the Alaska Railroad Corporation. Ultimately, only time will tell if the current public and private investments will finally result in more state of the art high-speed railways across the country. What is certain, is that there will be plenty of work on rails and related projects for builders, so get your business poised for more action with speedy and easy bid, performance and payment bonds from Colonial Surety. Qualify for The Partnership Account® and you’ll even use our power of attorney to issue your own bid bonds, in minutes. Win more work than ever as you leverage your: surety line of credit—in writing;
- private digital dashboard;
- daily snapshot of single and aggregate limits
- ability to update work on hand—and increase your aggregate.
Get started right now—and get your free financial scores too:
Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed. Let’s connect today: Colonial Surety.