Tim Rosenberger and Emily Murphy write in City Journal about private sector success in rail transit.
- Florida East Coast Industries (FECI) has build a high-speed rail line from Orlando to Miami on time and on budget.
- Compare FECI’s success to the high-speed rail project in California which was originally proposed in 2009, has not been built, and will cost an estimated $28 billion to complete.
- While FECI did receive some federal funding for its project, it was mostly funded by private capital and private activity bonds which allowed it to escape much of the bureaucracy that California’s rail has had to navigate.
“FECI intends to complete construction of the new Brightline project before the 2028 Olympics come to California. If it does, the firm will have offered yet another demonstration of how the private sector can succeed where the public sector fails. ”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
