California Rail Authority Hears Proposals From 1,100 Businesses
LOS ANGELES (AP) — The California High-Speed Rail Authority says it's heard from more than 1,100 large and small businesses interested in financing, designing, constructing and operating the planned bullet train system.
The submissions were in response to a request by the agency that the private section put in writing their desire to develop the state's high-speed rail project, which would stretch from the Los Angeles basin to the Bay area. Companies had until Wednesday to respond.
The authority has received $5.5 billion in federal funding toward the project. Last month, the Obama administration announced a six-year $53 billion spending plan for a high-speed rail as a part of a strategy to create jobs through infrastructure spending.
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