IE Business Daily Business news for the Inland Empire.
A groundbreaking ceremony was held today in Fresno on the Bullet Train, the high-speed rail system that will transport passengers between Los Angeles and San Francisco in less than three hours.
Construction will soon begin on the project’s first phase, a 28-mile stretch from Fresno north to Madera, according to multiple reports.
Once that segment is completed, construction will start on a 114-mile stretch from Fresno south to Bakersfield. The first set of tracks linking the two major cities are expected to be completed in 2029.
In 2002, California voters approved a $10 billion bond to help pay for the Bullet Train. In 2012, the Obama Administration provided $3.3 billion for the projects. The train, the first of its kind in the United States, is meant to make California a model for high-speed rail projects throughout the United States, according to reports.
