XpressWest, a high-speed rail line that will connect Southern California to Las Vegas, won $200 million of private activity bonds from Nevada
Brightline operates the only privately owned U.S. passenger rail line, currently connecting West Palm Beach to Miami, and is building an extension to Orlando. Edens’ has told Forbes he sees a big opportunity in the U.S. for rapid trains links between middle-distance cities that are too close to fly but a little too far to drive, modeled on the Paris-to-London Eurostar and other private European trains.
The company estimates its West Coast and Florida rail projects will cost a combined $9 billion build but Edens says they will eventually generate “spectacular” profits. Brightine estimates the two projects may haul nearly 20 million passengers in 2026, generate annual revenue of $1.6 billion and operating profit of almost $1 billion a year. early this year. “It’s a gigantic opportunity.”
The XpressWest line will be built near Interstate-15 and operate electric trains traveling at speeds up to 200 miles an hour to move people between Southern California and Las Vegas in 85 minutes. Construction is to start late this year and the company estimates it will attract 10 million riders annually.
Currently, the California terminus for the XpressWest line is Apple Valley, a high desert community about 90 minutes from Los Angeles, but the project is in talks to extend it to, a Los Angeles suburb that’s connected to downtown LA via the Metrolink commuter rail service. Private activity bonds, created by the federal government for high-cost infrastructure projects, are tax-exempt but do not use public funds.
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