Written by The Business Journal Staff
(AP) — The company planning to build a high-speed train system linking Las Vegas and Southern California says the rail would attract 11 million round-trip riders by full buildout in 2035.
The Las Vegas Review-Journal reports (http://bit.ly/2mQ9VrS ) that a report completed for XpressWest estimates the rail would generate about $1 billion in annual revenue by 2035, based on $115 round-trip tickets.
Steer Davies Gleave, the company hired to complete the report for the High Desert Corridor Joint Powers Authority, found that there is a large, proven demand between California and Las Vegas.
About 3 million passengers are projected to take roundtrip rides when the first segment between Las Vegas and Palmdale, California, is completed in 2021.
Construction for that leg was supposed to start in 2016 but was delayed.
Information from: Las Vegas Review-Journal, http://www.lvrj.com