Monday, January 25, 2016

Gov. Malloy Releases Economic Impact Numbers of Modernizing the New Haven Line

Governor Dannel P. Malloy today announced that an economic analysis performed on the Governor's proposed upgrades to the New Haven Line demonstrates that the economic benefits of replacing the commuter rail system is more than twice the cost of the project upgrades, and will be a major factor in being able to attract and retain businesses and grow jobs.

The analysis determined that while the proposed upgrades have an estimated cost of $3.9 billion, its future benefits amount to $9.7 billion - a net gain of $5.8 billion, amounting to a benefit/cost ratio of 2.51.

Further, the study found that on a long-term basis, the investments will result in over $6.2 billion in long-term cumulative business sales and output - $3.9 billion in additional gross state product and $2.8 billion in additional wage income.  The project is expected to support 4,000 to 6,000 construction jobs during the construction phase.  For every year following the opening of the new structure, the improved transportation efficiency and lower travel and shipping costs will support the creation of 2,000 to 3,100 jobs over the life of the new facility.
MNCRR M-8 at NEC Port Chester.jpg 
Environmental impact include Fleet Mix, Vehicle Miles Traveled, Congestion

As part of Governor Malloy's "Let's Go CT!" transportation initiative, he has proposed major upgrades to service on the New Haven Line, in order to provide more frequent and faster service.  This includes increasing the track capacity to full-service of four tracks, as opposed to the current two to three tracks that are in service at any given time.  He's also proposed a reconfiguration and upgrade of the Connecticut system to improve the frequency and speed of service, including upgrades to sections of track, the signal system, the communication system, and reconfiguration of several stations to provide express train service on the two inner tracks, and local train service on the two outer tracks.

The resulting upgrades will lead to:
  • Doubling peak-hour service
  • Increasing the number of express trains per hour between New Haven and New York City from two to at least four and possibly as many as eight express trains per hour
  • Reduction of express service travel time between New Haven and New York City by an average of 15 minutes
  • Increasing local service (non-express) trains from the current rate of approximately every 20 minutes during peak service, to about every four to eight minutes
"The New Haven Line has the potential to carry thousands of additional commuters, and do so at a faster and more frequent rates. That means we will be far more attractive to businesses -- our economy will benefit greatly from these investments," Governor Malloy said.  "Inaction is not an option.  Improving the New Haven Line is critical to our economic success, not just because it will attract new businesses and grow jobs, but improve quality of life. Everyone should be able to live in Connecticut with a car-or without one."

"Over the last several years, we have invested literally billions of dollars in the New Haven Line and now have an excellent system on which to build," Connecticut Department of Transportation Commissioner James P. Redeker said.  "Our customers have given us high marks for these investments, especially on the state-of-the-art M-8 rail cars.  Now is not the time to pull back.  Now is the time to maintain and enhance these investments."

The New Haven Line is the busiest rail line in the country, with about 125,000 daily rider trips and about 39 million passengers per year.

State of Connecticut
Press Release dated November 20, 2015

No comments:

Post a Comment