In May 21, 2014, the local and national media highlighted WEG’s analysis on the potential economic impacts generated by the planned All Aboard Florida project. According to the media and WEG’s study, All Aboard will generate more than $6 billion in positive economic impact for the State of Florida over the next 8 years and will add nearly $3.5 billion in GDP to Florida’s economy. In addition, the project will generate an estimated $2 billion in Labor Income. Beyond the economic benefits, the rail construction between 2014 and 2016 is expected to create more than 10,000 jobs on average per year and when the project is completed, over 5,000 jobs will 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 multimodal mass transportation of All Aboard Florida operations,” said Dr. Tony Villamil, Principal and Founder of The Washington Economics Group, Inc. (WEG). He also added, “The benefits accrued to the State and to the counties serviced along the corridor 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 more information