Alternative Funding and Financing Mechanisms for Passenger and Freight Rail Projects (2015) / Chapter Skim
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Pages 12-22
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12 2.1 Rail Project/Service Types and Their Financial Dynamics Rail projects and services can differ substantially, and so can their funding needs and associated financing. This chapter discusses different types of freight and passenger rail projects and operations in the United States and basic related financial dynamics.
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U.S. Rail Industry Structure and Financial Dynamics 13 in Europe and Asia (where speeds in excess of 185 mph [300 km/h]
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14 Alternative Funding and Financing Mechanisms for Passenger and Freight Rail Projects 8 There are some exceptions to this ownership and charging structure. Amtrak owns the infrastructure along some parts of the North-East Corridor, where it imposes access charges on private freight and public commuter operators.
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U.S. Rail Industry Structure and Financial Dynamics 15 13 In part because they are too small to be able to afford the administrative costs and fees necessary for access to debt markets; some may be marginally profitable and unable to access commercial debt markets or bank financing.
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16 Alternative Funding and Financing Mechanisms for Passenger and Freight Rail Projects and 2012 ranged between $1.1 and $1.3 billion annually.17 However, operating financial performance for Amtrak's services vary widely: the Acela service on the Northeast Corridor, for example, earns an operating profit, which has been used to subsidize other services. On state corridors, state DOT contributions have been used to narrow the funding gap where states have determined the public benefits merit public funding.
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U.S. Rail Industry Structure and Financial Dynamics 17 As a private corporation (with most shares owned by the federal government19)
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18 Alternative Funding and Financing Mechanisms for Passenger and Freight Rail Projects 24 Lane, R., D Schned and P
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U.S. Rail Industry Structure and Financial Dynamics 19 trackage rights to freight rail companies and/or Amtrak.
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20 Alternative Funding and Financing Mechanisms for Passenger and Freight Rail Projects • Local revenues from taxes or fees generated by a local or regional government (e.g., local sales taxes or income tax, a property tax, or other local taxes) ; • State revenues from taxes or fees imposed by a state government; and • Federal revenues originating from federal government funding programs.
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Table 2-1. Comparison of US market structure with international jurisdictions, and related funding and financing implications.
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Country/ Region Rail Infrastructure Ownership Freight Operators Passenger Rail Operaons Rolling Stock EU Owned and managed by stateowned companies. Under EU rules, infrastructure must be managed by a company that is separate in its decision-making from any operators.
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