State Eligible For Billions In High-Speed Rail Funds
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New York is on track to receive billions of dollars in high speed rail funds.
The Obama Administration has designated the Northeast Corridor as a federally-recognized high speed corridor.
This allows states in the area to apply for $2.4 billion in federal grants, which were made available after the governor of Florida turned them down.
It will also allow Amtrak to be in on the planning process.
In order to be eligible for the money, states must show an ability to reduce energy use, improve the efficiency of their transportation network, and generate sustained economic growth.
Local lawmakers applauded the move, calling it an engine for job creation.
Applications are due on April 4.