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Amtrak has unveiled plans to double its ridership to 66 million passengers annually by 2040, buoyed by significant investments in rail infrastructure spearheaded by the Biden administration.
This growth strategy was announced on Wednesday, with Amtrak CEO Stephen Gardner emphasizing the company’s recovery post-pandemic and its ambitious expansion underpinned by the infrastructure bill’s funding.
In pursuit of this goal, Amtrak is set to allocate approximately $5.5 billion in capital investments for 2024. This budget will fund significant projects, including constructing a new tunnel beneath downtown Baltimore, renovating New York City’s East River Tunnel, and other initiatives across the United States. These efforts are part of a broader scheme to enhance intercity passenger rail services and modernize the rail system’s infrastructure, stations, fleet, and technology.
Amtrak’s expansion will also create about 3,500 jobs next year.
This follows the Federal Railroad Administration’s announcement in December about more than 50 new or expanded rail services, including expansions in the Midwest and South and new lines to cities such as Phoenix, Columbus, Nashville, and Mobile, further supporting Amtrak’s expansion.
