The Business Alliance for Northeast Mobility, a coalition of more than 30 chambers of commerce and civic organizations, urged House Speaker Nancy Pelosi and Appropriations Chairman David Obey in letters today to increase funding in the economic stimulus bill for transit and rail - the backbone of the Northeast economy. Increased funding will put people to work making necessary rail improvements and ensure the long-term economic competitiveness of the Northeast Megaregion.
The Alliance also released a report, "The Future of the Northeast Corridor," which details the improvements needed to increase rail mobility and stimulate economic growth. The report notes that the region is expected to face continued increase in rail traffic - adding additional stress to the existing infrastructure.
The Northeast Corridor (NEC) is the most heavily traveled portion of America's passenger rail system and is an economic engine for the Northeast Megaregion from Richmond, Virginia to Portland, Maine. The megaregion produces more than 20 percent of the nation's total economic output with just over 15 percent of the nation's population on only two percent of its land area.
With this staggering contribution to America's economy, the federal government has a great opportunity to create jobs by investing in our underfunded rail network - the very vehicle that drives the Northeast economy.