GARDEN CITY, NY—The controversial Third Track or “Fast Track” project proposed for the main line of the Long Island Rail Road would help create 14,000 jobs on Long Island by the year 2035 or 10 years after the project’s anticipated completion.

The economic impact of the project to add an additional track to a 9.8-mile segment of the LIRR Main Line between Floral Park and Hicksville was the subject of a report released earlier this week by The Long Island Index, a project of the Rauch Foundation. The report titled “The Economic and Fiscal Impacts of the Long Island Rail Road Main Line Third Track” states that construction of the Third Track would represent a $1.2-billion investment in the Long Island economy over a five-year period. That investment would yield 2,250 average annual jobs creations, $910 million in cumulative personal income and $910 million in cumulative gross regional product.

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.