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Researched by Industrial Info Resources (Sugar Land, Texas)--Industrial Info is tracking $208 billion worth of active capital transportation projects in the U.S., with more than 70% of the spend attributed to transit projects. President Joe Biden's administration has recommended four of the transit projects to receive federal funding support in the president's fiscal 2024 budget request.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a full list of detailed project reports. Many of these transportation projects will take years to complete. Transit projects top the project spending list, with more than $135 billion in activity, followed by airports ($34 billion) and marine cargo handling ($26 billion).
In March, the Federal Transit Administration (FTA) recommended four capital transit projects being tracked by Industrial Info to receive funding through two government programs: the CIG (Capital Investment Grants) and EPD Pilot (Expedited Project Delivery Pilot) programs. According to a press release, they are the government's "primary grant programs supporting new large transit capital projects that are locally planned, implemented, and operated," which includes investments such as new and expanded subway systems, commuter rail, light rail, streetcars and bus rapid transit.
Recommended to receive funding for the first time is the Chicago Transit Authority's $2.3 billion Red Line Extension project, which will add more than five miles of rail track to Chicago's Far South Side. The FTA suggested $350 million in funding for the project, which kicked off in mid-2021. Subscribers can read more in a detailed project report.
Another recommended project already has an existing grant agreement, to the tune of $636.98 million as of fiscal-year 2023, and the Biden administration recommended an additional $291.9 million in funding: the $2 billion Southwest Light Rail Transit project in Minnesota involves adding 14.5 miles of track to the existing METRO Green Line and connects downtown Minneapolis to downtown Saint Paul and other nearby communities. Construction kicked off in 2019, and completion is expected in 2027. Subscribers can click here to read more information.
The two other recommended projects have already received partial funding in prior budgets. The Biden administration is seeking $500 million in funding (on top of $4.6 billion already granted) for a transit project under construction in California: the $9.1 Phase II expansion of the Bay Area Rapid Transit District (BART)'s Silicon Valley service line, which would extend BART service six miles through downtown San Jose to Santa Clara. Click here for a project report.
Lastly, the government is requesting $496.8 million (on top of $3.4 billion already granted) for the $7.7 billion Second Avenue Subway Phase II Project in New York City, which would extend subway service from 96th St. to 125th St. The project is expected to kick off next year and is the second phase of four planned sections of subway that runs under Second Avenue on Manhattan's East Side. Click here to learn more about the project.
Subscribers to the GMI Database can click here for a full list of detailed reports for projects mentioned in this article.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a full list of detailed project reports. Many of these transportation projects will take years to complete. Transit projects top the project spending list, with more than $135 billion in activity, followed by airports ($34 billion) and marine cargo handling ($26 billion).
In March, the Federal Transit Administration (FTA) recommended four capital transit projects being tracked by Industrial Info to receive funding through two government programs: the CIG (Capital Investment Grants) and EPD Pilot (Expedited Project Delivery Pilot) programs. According to a press release, they are the government's "primary grant programs supporting new large transit capital projects that are locally planned, implemented, and operated," which includes investments such as new and expanded subway systems, commuter rail, light rail, streetcars and bus rapid transit.
Recommended to receive funding for the first time is the Chicago Transit Authority's $2.3 billion Red Line Extension project, which will add more than five miles of rail track to Chicago's Far South Side. The FTA suggested $350 million in funding for the project, which kicked off in mid-2021. Subscribers can read more in a detailed project report.
Another recommended project already has an existing grant agreement, to the tune of $636.98 million as of fiscal-year 2023, and the Biden administration recommended an additional $291.9 million in funding: the $2 billion Southwest Light Rail Transit project in Minnesota involves adding 14.5 miles of track to the existing METRO Green Line and connects downtown Minneapolis to downtown Saint Paul and other nearby communities. Construction kicked off in 2019, and completion is expected in 2027. Subscribers can click here to read more information.
The two other recommended projects have already received partial funding in prior budgets. The Biden administration is seeking $500 million in funding (on top of $4.6 billion already granted) for a transit project under construction in California: the $9.1 Phase II expansion of the Bay Area Rapid Transit District (BART)'s Silicon Valley service line, which would extend BART service six miles through downtown San Jose to Santa Clara. Click here for a project report.
Lastly, the government is requesting $496.8 million (on top of $3.4 billion already granted) for the $7.7 billion Second Avenue Subway Phase II Project in New York City, which would extend subway service from 96th St. to 125th St. The project is expected to kick off next year and is the second phase of four planned sections of subway that runs under Second Avenue on Manhattan's East Side. Click here to learn more about the project.
Subscribers to the GMI Database can click here for a full list of detailed reports for projects mentioned in this article.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
