OCBC Applauds State for Keeping High-Speed Rail on Track

IRVINE, CA--(Marketwire - Jul 6, 2012) - Orange County Business Council released the following statement today from President and CEO Lucy Dunn in response to the state Legislature's approval of SB1029, allocating $4.5 billion in funding for the nation's first High-Speed Rail system.

OCBC applauds the vision, leadership and perseverance of those who voted in favor of jobs, the environment and the economy by supporting funding for high-speed rail, including Orange County's elected leaders Senator Lou Correa and Assembly Members Tony Mendoza and Jose Solorio. As a business organization working to enhance Orange County's economic development and prosperity, OCBC has been a strong supporter of high-speed rail, recognizing it as a critical component of a comprehensive transportation network for the state.

"Orange County and California's economic vitality depend on an effective multi-modal 21^st century transportation system," Dunn said. "From greater mobility, to job creation, to environmental and economic benefits, every country in the world that has a high-speed train system has been enhanced by its development. In the U.S., California is once again on the forefront of innovation, the first in the nation to create a system that we believe will ultimately lead to improved passenger rail travel throughout the country."

With the state's population expected to grow by 500,000 each year over the next 20 years, California is faced with increased infrastructure demands that cannot be met with the current transportation system. California needs a long-term, multi-modal transportation plan to meet these growing needs and high-speed rail provides the better, faster, and cheaper option to increase mobility and economic vitality for years to come. Built out in phases over 25 years, the 800 mile rail system would take 70 million cars off the road annually, while costing less than half of that needed to expand the state's current transportation system. California's high-speed rail will result in improved movement of people, goods and services by allowing for faster ground travel between major metropolitan areas and relieving congestion on all major freeways and airports.

About OCBC:
Orange County Business Council is the leading voice of business in Orange County, California. OCBC represents and promotes the business community, working with government and academia, to enhance Orange County's economic development and prosperity in order to preserve a high quality of life. OCBC serves member and investor businesses with nearly 250,000 employees and 2,000,000 worldwide. In providing a proactive forum for business and supporting organizations, OCBC helps assure the financial growth of America's sixth largest county. For more information, visit www.ocbc.org.