Why I invested in the Texas Bullet Train
With the Super Bowl behind us, how many Texans would have enjoyed football’s biggest week even more had it not been for the traffic hassles to get to Houston? Just imagine if travelers had an alternative that’s fast, safe, reliable and productive.
For me, I already see that on the horizon: a high-speed train connecting North Texas and Houston, with a midway stop in the Brazos Valley, whisking passengers between the state’s top metro areas in 90 minutes and generating economic benefits for all communities along the route.
I’m proud to participate in this important project as an investor and now as a member of Texas Central’s Board of Directors. I know firsthand that what makes this development truly unique is its sophisticated business plan – driven by free-market principles, backed by discerning investors like me.
This project is moving forward, marked by a commitment not to take federal or state grants for its operations, a decision that benefits both Texas and U.S. taxpayers. Our business-minded leaders in Austin and Washington are looking for help to improve our infrastructure quickly and smartly.
Republican Speaker of Texas House, Joe Straus, said it best: “Our economy prospers when government stays out of the way. Low taxes and reasonable regulations … these are the Texas model. “
The project will be a thriving economic engine for the Lone Star State. It will directly create 10,000 jobs each year of construction, with nearly 1,000 permanent, highly trained positions once operational. Over 25 years, it is expected to pump more than $36 billion directly into state and local economies.
Local companies will benefit from construction work, such as building the system and maintenance facilities, supplying materials and providing long-term support for our state’s newest industry.
In addition, Texas Central expects to pay more than $2.5 billion in taxes over the next 25 years, going to counties, cities, schools and other taxing entities along the route.
The bullet train is the next great deal for Texas, demonstrating how the free market can and should play an integral part in addressing America’s enormous infrastructure opportunities, and I am thrilled to be a part of it.
Drayton McLane Jr.,
Chairman of the McLane Group and member,
Board of Directors, Texas Central