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RAIL FUNDING for High-Speed Rail in the Northeast Corridor." Amtrak outlined plans for a partly brand new and partly re-engi- neered, 426-mile, Northeast Corridor running from Boston to Washington, D.C., introducing true high-speed rail in the Northeast Corridor. The document has projected con- struction costs estimated by Amtrak at $117 billion in 2010 dollars.4 Like many other routes being proposed, calculating the fi nancial impact using a standard "farebox" model will lead to the inevitable conclusion that it is not fi nancially viable. There is, howev- er, a fi nancial calculus that is generally overlooked. This includes the pressure that HSR can take away from existing infrastructures. For example, where urban road systems are concerned, there are a number of key factors that can be heavily infl uenced by a robust HSR network. Modal shifting from automobiles to HSR reduces conges- tion on capacity-constrained road net- works. This results in reduced transit Amtrak estimates that construction costs for the Northeast Corridor high-speed rail project (rendering shown) will be approximately $117 billion in 2010 dollars. times from home to work, which im- proves productivity by freeing people who might otherwise spend up to two hours a day commuting. Shrinking the number of automo- biles on the road network also cuts carbon emissions and saves fuel. All of these attributes have a defi nable, measurable economic value to society and they need to be factored into the business case for HSR. As things stand, current models give only a limited un- CREATE. ENHANCE. SUSTAIN. As a global leader in transportation, AECOM helps our clients deliver high-speed rail, bus rapid transit, commuter rail, urban metro and light rail systems that bring communities closer. With the full range of planning, design and construction management services, we transform passenger mobility. derstanding of the value proposition for HSR, with an emphasis placed on the upfront costs of these projects – and less on the wider impact they may have. Because a traditional economic model is still being applied, relying predominantly on fare-box revenues to cover both operating and capital costs, many of these projects risk being doomed from the start. An "out of the farebox" approach needs to be applied. There is a view that, for HSR to get www.aecom.com 82 < mETRO mAGAZINE SEPTEMBER • OCTOBER 2012 metro-magazine.com