Today, Caltrain received word from the Federal Transit Administration (FTA) that a decision on whether to execute the pending $647 million Full Funding Grant Agreement (FFGA) for the Peninsula Corridor Electrification Project (PCEP) will be deferred until the Administration develops the President’s Fiscal Year (FY) 2018 Budget.
Electrification will be the most transformative effort ever undertaken on the Caltrain Corridor. The project offers unique economic, environmental and mobility benefits that will have an impact across the country. Federal investment in this project will help create over 9,600 jobs in the Bay Area and spread throughout the nation in places like Salt Lake City, UT, Jacksonville, FL; Richmond, VA; Hudson, WI; Littleton, CO and more. It will create over $2.5 billion in economic value and address one of the region’s principal barriers to economic growth by eliminating over 619,000 daily vehicle miles from the region’s roadways.