Federal transportation officials have approved $2.5 billion in private activity bonds for the Brightline West high-speed train connecting Las Vegas with Southern California.
The U.S. Transportation Department announced Tuesday that the bond approval is on top of the $3 billion in grant funding announced last month.
“Today, the Biden-Harris administration takes the next step to fulfill the promise of high-speed rail in the American West, with $2.5 billion in private activity bond authority to lay tracks, create jobs, and connect American cities,” Transportation Secretary Pete Buttigieg said in a statement.
The Transportation Department already approved $1 billion in private bonds for Brightline West in 2020, bringing the total bond allocation to $3.5 billion.
Brightline has proposed building a 218-mile high-speed rail line that would run mainly through the Interstate 15 corridor. It would connect Las Vegas with stations in Apple Valley, Hesperia and Rancho Cucamonga, California.
The company announced last week that it began field investigation work in Nevada in advance of breaking ground on the $12 billion project.
“Connecting Las Vegas and Southern California will provide wide-spread public benefits to both states, creating thousands of jobs and jumpstarting a new level of economic competitiveness for the region,” Wes Edens, founder and chairman of Brightline, said in a statement. “We appreciate the confidence placed in us by DOT and are ready to get to work.”
